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

Rhea-AI Summary

Esperion (NASDAQ: ESPR) has granted 58,300 restricted stock units (RSUs) to ten new employees under its 2017 Inducement Equity Incentive Plan on February 11, 2025. The RSUs will vest 25% after one year, with the remaining 75% vesting in twelve equal quarterly installments, subject to continued employment.

The grants are specifically designed as employment inducements for new hires who were not previously associated with Esperion, in compliance with NASDAQ Listing Rule 5635(c)(4). Esperion is a commercial-stage biopharmaceutical company that develops and commercializes FDA-approved oral, once-daily, non-statin medicines for patients with cardiovascular disease and elevated LDL-C. Their medications are supported by the CLEAR Cardiovascular Outcomes Trial involving nearly 14,000 patients.

Positive

• Company is expanding workforce with 10 new hires
• Has FDA-approved oral medications in commercial stage
• Maintains large-scale clinical validation with 14,000-patient CLEAR trial

Negative

• Stock dilution through new RSU grants to employees

ANN ARBOR, Mich., Feb. 13, 2025 (GLOBE NEWSWIRE) -- Esperion (NASDAQ: ESPR) today announced that on February 11, 2025, the Company granted ten new employees 58,300 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 Therapeutics, Inc. is a commercial stage biopharmaceutical company focused on bringing new medicines to market that address unmet needs of patients and healthcare professionals. The Company developed and is commercializing the only U.S. Food and Drug Administration (FDA) approved oral, once-daily, non-statin medicines for patients who are at risk for cardiovascular disease and are struggling with elevated low density lipoprotein cholesterol (LDL-C). These medications are supported by the nearly 14,000 patient CLEAR Cardiovascular Outcomes Trial. Esperion continues to build on its success with its next generation program which is focused on developing ATP citrate lyase inhibitors (ACLYi). New insights into the structure and function of ACLYi fully enables rational drug design and the opportunity to develop highly potent and specific inhibitors with allosteric mechanisms.

Esperion continues to evolve into a leading global biopharmaceutical company through commercial execution, international partnerships and collaborations and advancement of its pre-clinical pipeline. For more information, visit esperion.com and esperionscience.com and follow Esperion on LinkedIn and X.

Esperion Contact Information: 
Investors:  
Alina Venezia 
investorrelations@esperion.com
(734) 887-3903 

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

FAQ

How many RSUs did Esperion (ESPR) grant to new employees in February 2025?

Esperion granted 58,300 restricted stock units (RSUs) to ten new employees on February 11, 2025.

What is the vesting schedule for Esperion's February 2025 RSU grants?

The RSUs vest 25% after one year, with the remaining 75% vesting in twelve equal quarterly installments thereafter, subject to continued employment.

Why did Esperion (ESPR) issue these RSU grants in February 2025?

The RSUs were granted as employment inducements for new hires who were not previously associated with Esperion, in compliance with NASDAQ Listing Rule 5635(c)(4).

What type of medications does Esperion (ESPR) currently commercialize?

Esperion commercializes FDA-approved oral, once-daily, non-statin medicines for patients with cardiovascular disease and elevated LDL-C.