Apellis Pharmaceuticals Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Apellis Pharmaceuticals (Nasdaq: APLS) announced the approval of equity inducement awards to seven new employees on April 3, 2023.
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Rhea-AI Summary
Apellis Pharmaceuticals (Nasdaq: APLS) announced the approval of equity inducement awards to seven new employees on April 3, 2023. The awards, totaling 16,115 restricted stock units (RSUs), are designed to incentivize new hires as part of their employment acceptance. The RSUs will vest in increments of 25% annually over four years, contingent upon continued employment. This move aligns with Nasdaq Listing Rule 5635(c)(4) and reflects the company's strategy to attract talent in the biopharmaceutical sector, particularly in complement medicine.
As a leader in this field, Apellis aims to innovate therapies for rare and neurological diseases. The company is committed to developing transformative medicines and enhancing its workforce to support ongoing research and development efforts.
Positive
- Equity inducement awards may attract skilled talent to enhance business operations.
- Vesting of RSUs over four years encourages employee retention and engagement.
Negative
- None.
Details
News Market Reaction – APLS
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WALTHAM, Mass., April 06, 2023 (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 7 new employees with a grant date of April 3, 2023, 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 16,115 restricted stock units (RSUs). Each RSU will vest as to
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. 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 21, 2023 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
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