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

Rhea-AI Summary

Annexon (ANNX) has granted stock options to a new non-executive employee as part of its 2022 Employment Inducement Award Plan. The equity award, approved on March 12, 2025, complies with Nasdaq Listing Rule 5635(c)(4).

The grant includes options to purchase 35,000 shares of Annexon common stock with a ten-year term and an exercise price of $2.60 per share, matching the closing price on March 14, 2025. The options vest over 4 years, with 25% vesting after the first year and the remaining 1/48th vesting monthly thereafter, contingent on continued employment.

BRISBANE, Calif., March 17, 2025 (GLOBE NEWSWIRE) -- Annexon, Inc. (Nasdaq: ANNX), a biopharmaceutical company advancing a late-stage clinical platform of novel therapies for people living with devastating classical complement-mediated neuroinflammatory diseases of the body, brain, and eye, 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 12, 2025, in accordance with Nasdaq Listing Rule 5635(c)(4).

The new non-executive employee received an option to purchase 35,000 shares of Annexon common stock. The option carries a ten-year term and an exercise price per share equal to $2.60, which was the closing price of Annexon’s common stock on March 14, 2025, 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 developing therapeutics that stop classical complement-driven neurodegeneration as first-in-kind treatments for millions of people living with serious neuroinflammatory diseases of the body, brain and eye. Our novel scientific approach focuses on C1q, the initiating molecule of classical complement’s potent inflammatory pathway that when misdirected can lead to tissue damage and loss. By targeting C1q, our immunotherapies are designed to stop this neuroinflammatory cascade in disease before it starts. Our pipeline spans three diverse therapeutic areas – autoimmune, neurodegenerative and ophthalmic diseases – and includes targeted investigational drug candidates designed to address the unmet needs of over 8 million people worldwide. Annexon’s mission is to deliver game-changing therapies to patients so that they can live their best lives. To learn more visit annexonbio.com.

Investor Contact:

Joyce Allaire
LifeSci Advisors
jallaire@lifesciadvisors.com

FAQ

What stock options did Annexon (ANNX) grant to its new employee in March 2025?

Annexon granted options to purchase 35,000 shares at $2.60 per share, with a ten-year term and 4-year vesting schedule.

How does the vesting schedule work for ANNX's March 2025 employee stock options?

25% of shares vest after the first year, followed by 1/48th of shares vesting monthly over the remaining three years.

What was Annexon's (ANNX) stock price on March 14, 2025?

Annexon's closing stock price was $2.60 on March 14, 2025.

Under which regulatory rule was ANNX's employee stock option grant approved?

The grant was approved under Nasdaq Listing Rule 5635(c)(4) and the 2022 Employment Inducement Award Plan.