Amylyx Pharmaceuticals Announces Inducement Grants Under Nasdaq Listing Rule 5635(C)(4)

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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 per share, which is equal to the closing price of Amylyx' common stock as reported by The Nasdaq Global Select Market on February 20, 2024. 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 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.