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 biopharmaceutical company focused on developing oral, non-statin medicines for cardiovascular disease patients with elevated LDL-C, has announced the grant of inducement share options to a new non-executive hire. The Compensation Committee approved options for 59,200 ordinary shares under the 2024 Inducement Plan, in compliance with Nasdaq Listing Rule 5635(c)(4).

The options have an exercise price of $17.25 per share, matching the closing market price on August 1, 2024. The shares will vest over four years, with 25% vesting after one year and the remainder vesting in 36 monthly installments, subject to continued employment. This grant is part of NewAmsterdam's strategy to attract and retain key talent in its mission to develop innovative cardiovascular treatments.

Positive

• Attracting new talent with stock options aligns employee interests with company goals
• Compliance with Nasdaq listing rules demonstrates good corporate governance

Negative

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

NAARDEN, The Netherlands and MIAMI, Aug. 02, 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 59,200 of NewAmsterdam’s ordinary shares to one non-executive new hire. The share options were granted as an inducement material to the employee’s 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 $17.25 which represents the closing market price on the Nasdaq Stock Market of the Company’s ordinary shares on, August 1, 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 the 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 August 1, 2024?

NewAmsterdam Pharma (NAMS) granted inducement share options covering 59,200 ordinary shares to one non-executive new hire on August 1, 2024.

What is the exercise price of the share options granted by NewAmsterdam Pharma (NAMS)?

The exercise price of the share options granted by NewAmsterdam Pharma (NAMS) is $17.25 per share, which was the closing market price on the Nasdaq Stock Market on August 1, 2024.

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

The shares subject to the options will vest over four years, with 25% vesting on the one-year anniversary and the balance vesting in 36 equal monthly installments thereafter, subject to continued employment.

Under which plan were the inducement share options granted by NewAmsterdam Pharma (NAMS)?

The inducement share options were granted under the NewAmsterdam Pharma Company N.V. 2024 Inducement Plan, in accordance with Nasdaq Listing Rule 5635(c)(4).