Amylyx Pharmaceuticals Announces Inducement Grants Under Nasdaq Listing Rule 5635(C)(4)
Amylyx Pharmaceuticals, Inc. granted stock options and restricted stock units to Chief Human Resources Officer Linda Arsenault. The options allow purchasing up to 101,400 shares at $14.91 per share, with a ten-year term and four-year vesting period. RSUs will vest in four installments over four years. The grant was made under the 2023 Inducement Plan to induce Ms. Arsenault's employment.
02/23/2024 - 04:05 PM
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 Linda Arsenault, the Company’s newly appointed Chief Human Resources Officer. The Compensation Committee of Amylyx’ Board of Directors approved the grant, effective February 20, 2024, to Ms. Arsenault of non-qualified stock option awards to purchase up to 101,400 shares of the Company’s common stock and 67,600 RSUs under the Amylyx Pharmaceuticals, Inc. 2023 Inducement Plan (“2023 Inducement Plan”). The awards were granted as an inducement material to Ms. Arsenault entering into employment with Amylyx in accordance with Nasdaq Listing Rule 5635(c)(4).
The options have an exercise price of $14.91 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 to Ms. Arsenault’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 Ms. Arsenault’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 disease community through the discovery and development of innovative new treatments. Amylyx is headquartered in Cambridge, Massachusetts and has operations in Canada , EMEA, and Japan . For more information, visit amylyx.com and follow us on LinkedIn and X , formerly known as Twitter. For investors, please visit investors.amylyx.com .
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Media
Amylyx Media Team
amylyxmediateam@amylyx.com
Investors
Lindsey Allen
Investors@amylyx.com
Source: Amylyx Pharmaceuticals, Inc.
What type of stock options and units were granted by Amylyx Pharmaceuticals, Inc. to Linda Arsenault?
Amylyx Pharmaceuticals, Inc. granted non-qualified stock option awards to purchase up to 101,400 shares of the Company's common stock and 67,600 RSUs to Linda Arsenault.
What is the exercise price of the stock options granted to Linda Arsenault by Amylyx Pharmaceuticals, Inc.?
The exercise price of the stock options granted to Linda Arsenault by Amylyx Pharmaceuticals, Inc. is $14.91 per share.
What is the vesting period for the stock options and RSUs granted to Linda Arsenault by Amylyx Pharmaceuticals, Inc.?
The stock options granted to Linda Arsenault by Amylyx Pharmaceuticals, Inc. will vest over four years, with 25% vesting on the one-year anniversary and the remaining 75% in 36 successive monthly installments. The RSUs will vest in four installments over four years.
Under which plan were the stock options and RSUs granted to Linda Arsenault by Amylyx Pharmaceuticals, Inc.?
The stock options and RSUs were granted to Linda Arsenault by Amylyx Pharmaceuticals, Inc. under the Amylyx Pharmaceuticals, Inc. 2023 Inducement Plan.
What is the purpose of granting the stock options and RSUs to Linda Arsenault by Amylyx Pharmaceuticals, Inc.?
The stock options and RSUs were granted to Linda Arsenault by Amylyx Pharmaceuticals, Inc. as an inducement material for her entering into employment with the company.
