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

Rhea-AI Summary

NewAmsterdam Pharma Company N.V. (Nasdaq: NAMS), a late-stage clinical biopharmaceutical company, has announced the approval of inducement share options for three new non-executive hires. The Compensation Committee of NewAmsterdam's Board of Directors granted options covering 111,000 ordinary shares under the 2024 Inducement Plan, in compliance with Nasdaq Listing Rule 5635(c)(4).

The share options have an exercise price of $15.91 per share, matching the closing market price on September 3, 2024. The vesting schedule spans four years, with 25% vesting after one year and the remainder vesting in 36 equal monthly installments, contingent on continued employment. These grants are part of NewAmsterdam's strategy to attract talent in its mission to develop oral, non-statin medicines for patients at risk of cardiovascular disease with elevated LDL-C.

Positive

• Attraction of new talent through share options, potentially enhancing the company's human capital
• Compliance with Nasdaq listing rules, maintaining good corporate governance

Negative

• Potential dilution of existing shareholders' equity due to the issuance of new share options

NAARDEN, the Netherlands and MIAMI, Sept. 06, 2024 (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 111,000 of NewAmsterdam’s ordinary shares to three 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 $15.91, which represents the closing market price on the Nasdaq Stock Market of the Company’s ordinary shares on, September 3, 2024 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 inducement share options did NewAmsterdam Pharma (NAMS) grant on September 3, 2024?

NewAmsterdam Pharma (NAMS) granted inducement share options covering an aggregate of 111,000 ordinary shares to three non-executive new hires on September 3, 2024.

What is the exercise price of the share options granted by NewAmsterdam Pharma (NAMS) on September 3, 2024?

The share options granted by NewAmsterdam Pharma (NAMS) on September 3, 2024, have an exercise price of $15.91 per share, which was equal to the closing market price on the Nasdaq Stock Market on that date.

What is the vesting schedule for the share options granted by NewAmsterdam Pharma (NAMS) in September 2024?

The share options granted by NewAmsterdam Pharma (NAMS) in September 2024 vest over four years, with 25% vesting on the one-year anniversary and the remaining 75% vesting in 36 equal monthly installments thereafter, subject to continued employment.