Apellis Pharmaceuticals Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Apellis Pharmaceuticals, Inc. (Nasdaq: APLS) announced the grant of equity awards to two new employees as of August 1, 2022.

Rhea-AI Summary

Apellis Pharmaceuticals, Inc. (Nasdaq: APLS) announced the grant of equity awards to two new employees as of August 1, 2022. These equity inducement awards are outside of the company's 2017 Stock Incentive Plan, aligning with the terms of the 2022 Inducement Stock Incentive Plan. Each employee received options for 2,409 restricted stock units (RSUs), which will vest at 25% annually over four years, contingent upon continued employment. This initiative is part of Apellis' strategy to attract top talent in the biopharmaceutical sector.

Positive

• Approval of equity awards can attract and retain talent.
• Structure of RSU vesting encourages long-term employee commitment.

Negative

• None.

Argus Session date unavailable

+3.26% session move Open Argus

Details

News Market Reaction – APLS

The recorded move for APLS in the trading session of this news was +3.26%.

Data tracked by StockTitan Argus. Session date unavailable.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

WALTHAM Mass., Aug. 04, 2022 (GLOBE NEWSWIRE) -- Apellis Pharmaceuticals, Inc. (Nasdaq: APLS), a global biopharmaceutical company and leader in complement, today announced that the company approved the grant of equity awards to two new employees with a grant date of August 1, 2022, as equity inducement awards outside of the company's 2017 Stock Incentive Plan (but under the terms of the 2022 Inducement Stock Incentive Plan) and material to the employees’ acceptance of employment with the company. The equity awards were approved in accordance with Nasdaq Listing Rule 5635(c)(4).

The employees received options to purchase 2,409 restricted stock units (RSUs). Each RSU will vest as to 25% of the shares underlying the RSU award on the first anniversary of the grant date and as to an additional 25% of the shares underlying the RSU award annually thereafter, subject to each such employee's continued employment on each vesting date.

About Apellis
Apellis Pharmaceuticals, Inc. is a global biopharmaceutical company that is committed to leveraging courageous science, creativity, and compassion to deliver life-changing therapies. Leaders in complement, we ushered in the first new class of complement medicine in 15 years with the approval of the first and only targeted C3 therapy. We are advancing this science to continually develop transformative medicines for people living with rare, retinal, and neurological diseases. For more information, please visit http://apellis.com or follow us on Twitter and LinkedIn.

Apellis Forward-Looking Statement
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements regarding timing of anticipated regulatory submissions or decisions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, as discussed in the “Risk Factors” section of Apellis’ Annual Report on Form 10-K with the Securities and Exchange Commission on February 28, 2022 and the risks described in other filings that Apellis may make with the Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof, and Apellis specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

Investor Contact:
Meredith Kaya
meredith.kaya@apellis.com
617.599.8178

 

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Apellis Pharmaceuticals announce on August 4, 2022?

On August 4, 2022, Apellis Pharmaceuticals announced the approval of equity inducement awards for two new employees.

How many restricted stock units were granted to the new employees by Apellis Pharmaceuticals?

The new employees received a total of 2,409 restricted stock units (RSUs).

What is the vesting schedule for the RSUs granted by Apellis Pharmaceuticals?

The RSUs will vest 25% annually over four years, starting from the first anniversary of the grant date.

Under which plan were the equity awards granted by Apellis Pharmaceuticals?

The equity awards were granted under the 2022 Inducement Stock Incentive Plan.

What is the significance of the equity awards granted by Apellis Pharmaceuticals?

The equity awards are crucial for attracting and retaining talent in the competitive biopharmaceutical industry.