Esperion Announces Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)

Rhea-AI Summary

Esperion (ESPR) granted 66 new employees 204,900 restricted stock units (RSUs) under the 2017 Inducement Equity Incentive Plan. Each RSU will vest over time, subject to continued employment. Esperion focuses on developing medicines for cardiovascular diseases, aiming to improve patient outcomes by lowering LDL-cholesterol levels.

ANN ARBOR, Mich., Feb. 16, 2024 (GLOBE NEWSWIRE) -- Esperion (NASDAQ: ESPR) today announced that, on February 13, 2024, the Company granted 66 new employees 204,900 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
At Esperion, we discover, develop, and commercialize innovative medicines to help improve outcomes for patients with or at risk for cardiovascular and cardiometabolic diseases. The status quo is not meeting the health needs of millions of people with high cholesterol – that is why our team of passionate industry leaders is breaking through the barriers that prevent patients from reaching their goals. Providers are moving toward reducing LDL-cholesterol levels as low as possible, as soon as possible; we provide the next steps to help get patients there. Because when it comes to high cholesterol, getting to goal is not optional. It is our life’s work. For more information, visit esperion.com and esperionscience.com and follow us on Twitter at twitter.com/EsperionInc.

Esperion Contact Information:
Investors:
Alexis Callahan
investorrelations@esperion.com
(406) 539-1762

Media:
Tiffany Aldrich
corporateteam@esperion.com
(616) 443-8438

FAQ

How many new employees were granted RSUs by Esperion?

Esperion granted 66 new employees 204,900 restricted stock units (RSUs) under the 2017 Inducement Equity Incentive Plan.

What is the vesting schedule for the RSUs?

Each RSU will vest as to 25 percent of the shares on the one-year anniversary of the recipient’s vesting commencement date and will vest as to the remaining 75 percent in twelve equal quarterly installments.

What is the focus of Esperion's work?

Esperion focuses on discovering, developing, and commercializing medicines for cardiovascular and cardiometabolic diseases, aiming to improve patient outcomes by lowering LDL-cholesterol levels.