Assertio Holdings, Inc. Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)

Rhea-AI Summary

Assertio Holdings (NASDAQ: ASRT) has announced inducement grants for its newly-hired Senior Vice President and Chief Commercial Officer, Mary Pietryga. The compensation package, approved by the Company's Board of Directors' Compensation Committee on December 23, 2024, includes 62,500 restricted stock units (RSUs) and 275,000 stock options.

The stock options have an exercise price of $0.846 per share, matching Assertio's common stock closing price on the grant date. Both RSUs and options will vest equally over three years, starting from the first anniversary of the grant date. These grants were made as inducement materials for employment in accordance with NASDAQ Listing Rule 5635(c)(4).

Positive

• New Chief Commercial Officer appointment strengthens executive team

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• None.

LAKE FOREST, Ill., Jan. 03, 2025 (GLOBE NEWSWIRE) -- Assertio Holdings, Inc. (“Assertio” or the “Company”) (NASDAQ: ASRT), a pharmaceutical company with comprehensive commercial capabilities offering differentiated products to patients, announced that effective December 23, 2024, the Compensation Committee of the Company’s Board of Directors granted Mary Pietryga, the Company’s newly-hired Senior Vice President, Chief Commercial Officer, 62,500 restricted stock units (“RSUs”) and 275,000 stock options (“options”).

The RSUs and options were granted as inducements material to Ms. Pietryga’s entry into employment with Assertio in accordance with NASDAQ Listing Rule 5635(c)(4). The RSUs and options are subject to Ms. Pietryga’s continued service relationship with the Company, terms and conditions substantially identical to those set forth in the Company’s 2014 Omnibus Incentive Plan and the award agreements pursuant to which they were granted. The options have an exercise price of $0.846 per share, which is equal to the closing price of Assertio’s common stock on the grant date. The RSUs and options vest equally annually over three years beginning on the first anniversary of the grant date.

About Assertio

Assertio is a commercial pharmaceutical company with comprehensive commercial capabilities offering differentiated products to patients. We have built our commercial portfolio through acquisition or licensing of approved products. Our commercial capabilities include marketing through both a sales force and a non-personal promotion model, market access through payor contracting, and trade and distribution. To learn more about Assertio visit www.assertiotx.com.

Forward-Looking Statements

Statements in this communication that are not historical facts are forward-looking statements that reflect Assertio’s current expectations, assumptions and estimates of future performance and economic conditions. These forward-looking statements are made in reliance on the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements relate to, among other things, future events or the future performance or operations of Assertio, including risks related to our ability to realize the benefits from our operating model, deliver or execute on our business strategy, including to expand or diversify our asset base and market reach and drive cash flows and growth, successfully integrate new assets, and explore new business development initiatives. All statements other than historical facts may be forward-looking statements and can be identified by words such as “anticipate,” “believe,” “could,” “design,” “estimate,” “expect,” “forecast,” “goal,” “guidance,” “imply,” “intend,” “may,” “objective,” “opportunity,” “outlook,” “plan,” “position,” “potential,” “predict,” “project,” “prospective,” “pursue,” “seek,” “should,” “strategy,” “target,” “would,” “will,” “aim” or other similar expressions that convey the uncertainty of future events or outcomes and are used to identify forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond the control of Assertio, including the risks described in Assertio’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the U.S. Securities and Exchange Commission (“SEC”) and in other filings Assertio makes with the SEC from time to time.

Investors and potential investors are urged not to place undue reliance on forward-looking statements in this communication, which speak only as of this date. While Assertio may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to update or revise any forward-looking-statements contained in this press release whether as a result of new information or future events, except as may be required by applicable law.

Investor Contact:

Matt Kreps, Managing Director
Darrow Associates
M: 214-597-8200
mkreps@darrowir.com

FAQ

What inducement grants did Assertio Holdings (ASRT) offer to its new Chief Commercial Officer?

Assertio Holdings offered 62,500 restricted stock units (RSUs) and 275,000 stock options to Mary Pietryga, with an exercise price of $0.846 per share for the options.

What is the vesting schedule for ASRT's December 2024 inducement grants?

The RSUs and stock options vest equally over three years, with vesting beginning on the first anniversary of the December 23, 2024 grant date.

What was the exercise price for ASRT's stock options granted in December 2024?

The stock options were granted with an exercise price of $0.846 per share, equal to Assertio's closing stock price on the grant date.

Who is the new Chief Commercial Officer at Assertio Holdings (ASRT)?

Mary Pietryga was appointed as the new Senior Vice President and Chief Commercial Officer at Assertio Holdings.