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

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Enanta Pharmaceuticals, Inc. announced inducement grants to its new Chief Legal Officer, Matthew P. Kowalsky, involving stock options, performance share units, and relative total stockholder return units under the company's 2024 Inducement Stock Incentive Plan. These awards are aimed at incentivizing Mr. Kowalsky's performance and retention within the company.

Enanta Pharmaceuticals, Inc. ha annunciato l'assegnazione di incentivi al suo nuovo Chief Legal Officer, Matthew P. Kowalsky, che comprendono opzioni azionarie, unità di azioni basate su performance e unità di ritorno totale azionario relativo, sotto il piano di incentivi azionari Inducement del 2024. Questi premi hanno lo scopo di incentivare le prestazioni e la permanenza di Mr. Kowalsky all'interno dell'azienda.
Enanta Pharmaceuticals, Inc. anunció la concesión de incentivos a su nuevo Director Jurídico, Matthew P. Kowalsky, que incluyen opciones sobre acciones, unidades de rendimiento y unidades de retorno total relativo al accionista bajo el Plan de Incentivos de Acciones de Inducción 2024 de la compañía. Estos premios están destinados a incentivar el rendimiento y la retención de Mr. Kowalsky en la empresa.
Enanta 제약 회사는 새로운 Chief Legal Officer인 Matthew P. Kowalsky에게 회사의 2024 유도 주식 인센티브 계획하에 주식 옵션, 성과 주식 단위 및 상대적 총 주주 수익 단위 보상을 발표했습니다. 이 상은 Kowalsky 씨의 성과와 회사 내에서의 유지를 장려하기 위한 것입니다.
Enanta Pharmaceuticals, Inc. a annoncé l'octroi d'incitations à son nouveau directeur juridique, Matthew P. Kowalsky, comprenant des options d'achat d'actions, des unités de performance et des unités de rendement total relatif des actionnaires dans le cadre du Plan d'Incitation en Actions de 2024 de la société. Ces récompenses visent à encourager la performance et la rétention de M. Kowalsky au sein de l'entreprise.
Enanta Pharmaceuticals, Inc. kündigte Anreizzuwendungen für ihren neuen Chief Legal Officer, Matthew P. Kowalsky, an, die Aktienoptionen, Leistungsaktieneinheiten und Einheiten für die relative Gesamtaktionärsrendite im Rahmen des Inducement-Aktienanreizplans 2024 umfassen. Diese Auszeichnungen zielen darauf ab, die Leistung und das Verbleiben von Herrn Kowalsky in der Firma zu fördern.
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WATERTOWN, Mass.--(BUSINESS WIRE)-- Enanta Pharmaceuticals, Inc. (NASDAQ:ENTA), a clinical-stage biotechnology company dedicated to creating small molecule drugs for virology and immunology indications, today announced that effective April 29, 2024, the Compensation Committee of Enanta Pharmaceuticals’ Board of Directors granted employment inducement awards to Matthew P. Kowalsky, Enanta’s new Chief Legal Officer, consisting of a non-qualified stock option to purchase 150,000 shares of its common stock, performance share units (PSUs) for 4,468 shares of its common stock, and relative total stockholder return units (rTSRUs) for 4,468 shares of its common stock, under the company’s 2024 Inducement Stock Incentive Plan.

The 2024 Inducement Stock Incentive Plan has been adopted by the Board of Directors to be used exclusively for the grant of equity awards to any individual who was not previously an employee or non-employee director of Enanta Pharmaceuticals, as an inducement material to such individual's entering into employment with Enanta Pharmaceuticals, pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules.

The stock option granted to Mr. Kowalsky has an exercise price equal to the closing price of Enanta Pharmaceuticals’ common stock on April 29, 2024. The option will vest as to 25% of the underlying shares on the first anniversary of the date of grant and in 12 substantially equal quarterly increments thereafter, subject to Mr. Kowalsky’s continued employment on each vesting date. The PSUs granted to him have the same terms as PSUs awarded to the company’s other executive officers in December 2023 and will vest based on high levels of company performance against specific research and development and non-financial business objectives over the two-year period ending December 31, 2025. The rTSRUs also have the same terms as rTSRUs awarded to the company’s other executive officers in December 2023 and will vest based on the relative total stockholder return on the company’s common stock versus the stocks of the other companies in the Nasdaq Biotechnology Index when comparing the average closing stock prices in the last 60 days of 2023 to the comparable period in 2025. In each case the benefit of the PSUs and rTSRUs is subject to the unit holder’s continued employment on the settlement date in February 2026. The option and units are subject to the terms and conditions of Enanta Pharmaceuticals' 2024 Inducement Stock Incentive Plan and the respective terms and conditions of the stock option and unit agreements covering these awards.

About Enanta Pharmaceuticals, Inc.

Enanta is using its robust, chemistry-driven approach and drug discovery capabilities to become a leader in the discovery and development of small molecule drugs for virology and immunology indications. Enanta’s research and development programs are currently focused on respiratory syncytial virus (RSV) and chronic spontaneous urticaria (CSU) and the company has previously advanced clinical-stage compounds for SARS-CoV-2 (COVID-19) and chronic hepatitis B virus (HBV) infection.

Glecaprevir, a protease inhibitor discovered by Enanta, is part of one of the leading treatment regimens for curing chronic hepatitis C virus infection (HCV) and is sold by AbbVie in numerous countries under the trade names MAVYRET®(U.S.) and MAVIRET®(ex-U.S.) (glecaprevir/pibrentasvir). A portion of Enanta’s royalties from HCV products developed under its collaboration with AbbVie contribute ongoing funding to Enanta’s operations. Please visit http://www.enanta.com for more information.

Media and Investors Contact

Jennifer Viera

jviera@enanta.com

Source: Enanta Pharmaceuticals, Inc.

FAQ

What inducement grants did Enanta Pharmaceuticals announce?

Enanta Pharmaceuticals announced grants to its new Chief Legal Officer, Matthew P. Kowalsky, including stock options, performance share units, and relative total stockholder return units.

When were these inducement grants effective?

The inducement grants were effective on April 29, 2024.

What is the purpose of the 2024 Inducement Stock Incentive Plan?

The plan is to grant equity awards to individuals who were not previously employees or non-employee directors of Enanta Pharmaceuticals, as an inducement for them to join the company.

What are the terms for vesting the stock option granted to Mr. Kowalsky?

The stock option will vest as to 25% of the shares on the first anniversary of the grant date and in 12 equal quarterly increments thereafter, subject to Mr. Kowalsky's continued employment.

How will the PSUs and rTSRUs granted to Mr. Kowalsky vest?

The PSUs and rTSRUs will vest based on company performance and total stockholder return over specific periods, with benefits subject to continued employment until the settlement date in February 2026.

Enanta Pharmaceuticals, Inc.

NASDAQ:ENTA

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Pharmaceutical Preparation Manufacturing
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United States of America
WATERTOWN