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Amylyx Pharmaceuticals Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
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Amylyx Pharmaceuticals, Inc. (Nasdaq: AMLX) granted stock options and restricted stock units to its new Chief Medical Officer, Dr. Camille L. Bedrosian. The Compensation Committee approved the grant effective November 27, 2023, consisting of non-qualified stock option awards to purchase up to 162,500 shares of the company's common stock and 58,333 RSUs under the 2023 Inducement Plan. The options have an exercise price of $12.93 per share, with a ten-year term and vesting over four years. The RSUs will vest in four installments on the first four anniversaries of the applicable vesting commencement date, subject to Dr. Bedrosian’s continued employment with Amylyx. The awards were granted as an inducement material to Dr. Bedrosian entering into employment with Amylyx in accordance with Nasdaq Listing Rule 5635(c)(4).
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CAMBRIDGE, Mass.--(BUSINESS WIRE)--
Amylyx Pharmaceuticals, Inc. (Nasdaq: AMLX) (“Amylyx” or the “Company”) today announced that it has granted stock options and restricted stock units (“RSUs”) to Camille L. Bedrosian, MD, the Company’s newly appointed Chief Medical Officer. The Compensation Committee of Amylyx’ Board of Directors approved the grant, effective November 27, 2023, to Dr. Bedrosian of non-qualified stock option awards to purchase up to 162,500 shares of the Company's common stock and 58,333 RSUs under the Amylyx Pharmaceuticals, Inc. 2023 Inducement Plan (“2023 Inducement Plan”). The awards were granted as an inducement material to Dr. Bedrosian entering into employment with Amylyx in accordance with Nasdaq Listing Rule 5635(c)(4).
The options have an exercise price of $12.93 per share, which is equal to the closing price of Amylyx' common stock as reported by The Nasdaq Global Select Market on November 27, 2023. The options have a ten-year term and will vest over four years, with 25% vesting on the one-year anniversary of the applicable vesting commencement date and the remaining 75% vesting in a series of 36 successive monthly installments thereafter, subject Dr. Bedrosian’s continued employment with Amylyx on such vesting dates. The RSUs will vest in four installments on the first four anniversaries of the applicable vesting commencement date, subject to Dr. Bedrosian’s continued employment with Amylyx on such vesting dates. The awards are subject to the terms and conditions of the 2023 Inducement Plan.
About Amylyx Pharmaceuticals
Amylyx Pharmaceuticals, Inc. is committed to supporting and creating more moments for the neurodegenerative community through the discovery and development of innovative new treatments. Amylyx is headquartered in Cambridge, Massachusetts and has operations in Canada and EMEA. For more information, visit amylyx.com and follow us on LinkedIn and X, formerly known as Twitter. For investors, please visit investors.amylyx.com.
Investors
Lindsey Allen
Amylyx Pharmaceuticals, Inc.
+1 (857) 320-6244
Investors@amylyx.com
Source: Amylyx Pharmaceuticals, Inc.
FAQ
What is the ticker symbol of Amylyx Pharmaceuticals, Inc.?
The ticker symbol of Amylyx Pharmaceuticals, Inc. is AMLX.
What type of stock options and RSUs were granted to Dr. Camille L. Bedrosian?
Dr. Bedrosian was granted non-qualified stock option awards to purchase up to 162,500 shares of the company's common stock and 58,333 RSUs under the 2023 Inducement Plan.
What is the exercise price of the stock options granted to Dr. Bedrosian?
The exercise price of the stock options is $12.93 per share.
How long is the term of the stock options granted to Dr. Bedrosian?
The stock options have a ten-year term.
How will the stock options and RSUs vest for Dr. Bedrosian?
The stock options will vest over four years, with 25% vesting on the one-year anniversary and the remaining 75% vesting in 36 successive monthly installments. The RSUs will vest in four installments on the first four anniversaries of the applicable vesting commencement date.
What is the purpose of granting these awards to Dr. Bedrosian?
The awards were granted as an inducement material to Dr. Bedrosian entering into employment with Amylyx in accordance with Nasdaq Listing Rule 5635(c)(4).
Amylyx Pharmaceuticals, Inc is a biopharmaceutical company headquartered in Cambridge, Massachusetts. Amylyx is best known for AMX0035, an experimental therapy for amyotrophic lateral sclerosis.
