Esperion Announces Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
Esperion (NASDAQ: ESPR) announced the grant of 16,500 restricted stock units (RSUs) to six new employees on February 13, 2023.
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Rhea-AI Summary
Esperion (NASDAQ: ESPR) announced the grant of 16,500 restricted stock units (RSUs) to six new employees on February 13, 2023. This grant falls under the 2017 Inducement Equity Incentive Plan, aimed at attracting individuals not previously employed by the company. The RSUs will vest 25% on the one-year anniversary of their commencement date, with the remaining 75% vesting in equal quarterly installments, contingent on continued employment. Esperion focuses on cholesterol management, developing convenient oral medications to lower LDL-cholesterol for patients unserved by existing treatments.
Positive
- The grant of RSUs may enhance employee retention and incentivize performance.
- Attracting new talent aligns with company growth strategies.
Negative
- None.
Details
News Market Reaction – ESPR
The recorded move for ESPR in the trading session of this news was +2.14%.
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ANN ARBOR, Mich., Feb. 13, 2023 (GLOBE NEWSWIRE) -- Esperion (NASDAQ: ESPR) today announced that, on February 13, 2023, the Compensation Committee of Esperion’s Board of Directors granted six new employees 16,500 restricted stock units (RSUs) under Esperion’s 2017 Inducement Equity Incentive Plan.
The 2017 Inducement Equity Incentive Plan is used exclusively for the grant of equity awards to individuals who were not previously an employee or non-employee director of Esperion (or following a bona fide period of non-employment), as an inducement material to such individual's entering into employment with Esperion, pursuant to Rule 5635(c)(4) of the NASDAQ Listing Rules.
Each RSU will vest and become exercisable as to 25 percent of the shares on the one-year anniversary of the recipient’s vesting commencement date and will vest and become exercisable as to the remaining 75 percent of the shares in twelve equal quarterly installments at the end of each quarter following such anniversary, in each case, subject to each such employee's continued employment with Esperion on such vesting dates. The RSUs are subject to the terms and conditions of Esperion’s 2017 Inducement Equity Incentive Plan, and the terms and conditions of the RSU agreement covering the grant.
Esperion Therapeutics
Esperion works hard to make our medicines easy to get, easy to take and easy to have. We discover, develop and commercialize innovative medicines and combinations to lower cholesterol, especially for patients whose needs aren’t being met by the status quo. Our entrepreneurial team of industry leaders is inclusive, passionate and resourceful. We are singularly focused on managing cholesterol so you can improve your health easily. Esperion is the leader in the development of convenient oral, once-daily non-statin LDL-cholesterol lowering drugs for patients with high levels of bad cholesterol. For more information, please visit www.esperion.com and follow us on Twitter at www.twitter.com/EsperionInc.
Contact:
Corporate Communications
corporateteam@esperion.com
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