NewAmsterdam Pharma Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

NewAmsterdam Pharma (Nasdaq: NAMS) announced that its Compensation Committee has approved inducement share options for five non-executive new hires, covering 133,000 ordinary shares. The options were granted under the company's 2024 Inducement Plan and comply with Nasdaq Listing Rule 5635(c)(4).

The share options have an exercise price of $18.38 per share, matching the closing market price on April 1, 2025. The vesting schedule spans four years, with 25% vesting after one year and the remaining balance vesting in 36 monthly installments, contingent on continued employment.

Positive

• Successful recruitment of five new non-executive employees strengthening the company's workforce

Negative

• Potential dilution of existing shareholders through 133,000 new share options

NAARDEN, the Netherlands and MIAMI, April 04, 2025 (GLOBE NEWSWIRE) -- NewAmsterdam Pharma Company N.V. (Nasdaq: NAMS or “NewAmsterdam” or the “Company”), a late-stage, clinical biopharmaceutical company developing oral, non-statin medicines for patients at risk of cardiovascular disease (“CVD”) with elevated low-density lipoprotein cholesterol (“LDL-C”), for whom existing therapies are not sufficiently effective or well-tolerated, today announced that the Compensation Committee of NewAmsterdam’s Board of Directors approved the grant of inducement share options covering an aggregate of 133,000 of NewAmsterdam’s ordinary shares to five non-executive new hires. The share options were granted as an inducement material to the employees’ acceptance of employment with NewAmsterdam pursuant to the NewAmsterdam Pharma Company N.V. 2024 Inducement Plan (the “2024 Inducement Plan”) and in accordance with Nasdaq Listing Rule 5635(c)(4).

The share options have an exercise price per share equal to $18.38, which represents the closing market price on the Nasdaq Stock Market of the Company’s ordinary shares on April 1, 2025, the grant date. The shares subject to the options will vest over four years, with 25% of the shares vesting on the one-year anniversary of the applicable vesting commencement date and the balance of the shares vesting in a series of 36 equal monthly installments thereafter, subject to each employee’s continued service with NewAmsterdam on such vesting dates. The options are subject to the terms and conditions of the 2024 Inducement Plan and the terms and conditions of an option award agreement covering the grant.

About NewAmsterdam
NewAmsterdam Pharma (Nasdaq: NAMS) is a late-stage biopharmaceutical company whose mission is to improve patient care in populations with metabolic diseases where currently approved therapies have not been adequate or well tolerated. We seek to fill a significant unmet need for a safe, well-tolerated and convenient LDL-lowering therapy. In multiple phase 3 studies, NewAmsterdam is investigating obicetrapib, an oral, low-dose and once-daily CETP inhibitor, alone or as a fixed-dose combination with ezetimibe, as LDL-C lowering therapies to be used as an adjunct to statin therapy for patients at risk of CVD with elevated LDL-C, for whom existing therapies are not sufficiently effective or well tolerated.

Company Contact
Matthew Philippe
P: 1-917-882-7512
matthew.philippe@newamsterdampharma.com

FAQ

How many shares are covered by NAMS's latest inducement options grant?

NewAmsterdam Pharma's inducement options grant covers 133,000 ordinary shares distributed among five non-executive new hires.

What is the exercise price for NAMS's April 2025 inducement share options?

The exercise price is $18.38 per share, based on NAMS's closing market price on April 1, 2025.

What is the vesting schedule for NewAmsterdam Pharma's 2024 Inducement Plan options?

The options vest over 4 years: 25% after one year, followed by 36 monthly installments for the remaining balance.

Under which regulatory rule were NAMS's inducement options granted?

The options were granted in accordance with Nasdaq Listing Rule 5635(c)(4) under the 2024 Inducement Plan.