Annexon Reports Inducement Grant to New Employee Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Annexon, Inc. grants an equity award to a new non-executive employee under the 2022 Employment Inducement Award Plan. The employee receives an option to purchase 3,500 shares of Annexon common stock at an exercise price of $6.69 per share, with vesting over 4 years. The award was approved on March 15, 2024, in line with Nasdaq rules.

BRISBANE, Calif., March 18, 2024 (GLOBE NEWSWIRE) -- Annexon, Inc. (Nasdaq: ANNX), a clinical-stage biopharmaceutical company developing a new class of complement-based medicines for people living with devastating inflammatory-related diseases, today announced that it has granted inducement to a new non-executive employee under the terms of the 2022 Employment Inducement Award Plan. The equity award was approved on March 15, 2024, in accordance with Nasdaq Listing Rule 5635(c)(4).

The new non-executive employee received an option to purchase 3,500 shares of Annexon common stock. The option carries a ten-year term and an exercise price per share equal to $6.69, which was the closing price of Annexon’s common stock on March 15, 2024, the date of grant, and vests over 4 years, with 25% of the shares underlying the options vesting on the first anniversary of the grant date and an additional 1/48th of the shares vesting monthly thereafter, subject to continued service through the applicable vesting dates.

About Annexon

Annexon Biosciences (Nasdaq: ANNX) is a clinical-stage biopharmaceutical company utilizing a distinct scientific approach to stop C1q and all inflammatory aspects of classical complement pathway activation before it starts. As the only company solely focused on targeting C1q, Annexon is developing a fit-for-purpose pipeline of therapeutics designed to provide meaningful benefits across multiple diseases of the body, brain and eye. With proof-of concept data in both Guillain-Barré syndrome and geographic atrophy, Annexon is rigorously advancing its mid-to late-stage clinical trials to bring their potential treatments to patients as quickly as possible. To learn more visit annexonbio.com.

Investor Contact:

Joyce Allaire
LifeSci Advisors
jallaire@lifesciadvisors.com

What type of company is Annexon, Inc.?

Annexon, Inc. is a clinical-stage biopharmaceutical company.

What is the ticker symbol for Annexon, Inc.?

The ticker symbol for Annexon, Inc. is ANNX.

How many shares of Annexon common stock did the new employee receive?

The new employee received an option to purchase 3,500 shares of Annexon common stock.

What is the exercise price per share for the option?

The exercise price per share for the option is $6.69.

How long is the term of the option?

The option carries a ten-year term.

How does the vesting of the shares work?

The shares vest over 4 years, with 25% vesting on the first anniversary of the grant date and an additional 1/48th vesting monthly thereafter.