PTC Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

PTC Therapeutics (NASDAQ: PTCT) has approved equity compensation packages for 12 new employees as part of their employment agreements. The inducement grants, approved on April 25, 2025, include:

- 7,000 non-statutory stock options with an exercise price of $49.53 per share (closing price on grant date)

- 10,780 restricted stock units (RSUs)

The stock options have a 10-year term and vest over 4 years, with 25% vesting after the first year and 6.25% quarterly thereafter. RSUs vest annually over 4 years at 25% per year. Both are subject to continued employment. These grants were made under Nasdaq Listing Rule 5635(c)(4) as inducement material to employment.

WARREN, N.J., May 1, 2025 /PRNewswire/ -- PTC Therapeutics, Inc. (NASDAQ: PTCT) announced today that on April 25, 2025, the company approved non-statutory stock options to purchase an aggregate of 7,000 shares of its common stock and 10,780 restricted stock units ("RSUs"), each representing the right to receive one share of its common stock upon vesting, to 12 new employees. The awards were made pursuant to the Nasdaq inducement grant exception as a component of the new hires' employment compensation.

The inducement grants were approved by PTC's Compensation Committee on April 25, 2025, and are being made as an inducement material to each employee's acceptance of employment with the company in accordance with Nasdaq Listing Rule 5635(c)(4).

All stock option awards have an exercise price of $49.53 per share, the closing price of PTC's common stock on April 25, 2025, the date of the grant. The stock options each have a 10-year term and vest over four years, with 25% of the original number of shares vesting on the first anniversary of the applicable employee's new hire date and 6.25% of the original number of shares vesting at the end of each subsequent three-month period thereafter until fully vested, subject to the employee's continued service with the company through the applicable vesting dates. The RSUs each will vest over four years with 25% of the original number of shares vesting on each annual anniversary of the applicable employee's new hire date until fully vested, subject to the employee's continued service with the company through the applicable vesting dates.

ABOUT PTC THERAPEUTICS, INC.
PTC is a global biopharmaceutical company that discovers, develops and commercializes clinically differentiated medicines that provide benefits to children and adults living with rare disorders. PTC's ability to innovate new therapies and to globally commercialize products is the foundation that drives investment in a robust and diversified pipeline of transformative medicines. To learn more about PTC, please visit us at www.ptcbio.com and follow us on Facebook, X, and LinkedIn.

For more information please contact:

Investors:
Ellen Cavaleri
+1 (615) 618-8228
ecavaleri@ptcbio.com

Media:
Jeanine Clemente
+1 (908) 912-9406
jclemente@ptcbio.com

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SOURCE PTC Therapeutics, Inc.

FAQ

What equity compensation did PTC Therapeutics (PTCT) grant to new employees in April 2025?

PTC Therapeutics granted 7,000 stock options at $49.53 per share and 10,780 RSUs to 12 new employees as inducement awards.

What is the vesting schedule for PTCT's April 2025 stock option grants?

The stock options vest over 4 years, with 25% vesting after the first year and 6.25% vesting quarterly thereafter, subject to continued employment.

How do the RSUs vest in PTC Therapeutics' April 2025 inducement grants?

The RSUs vest over 4 years, with 25% vesting annually on each employment anniversary, subject to continued service.

What is the exercise price of PTCT's April 2025 inducement stock options?

The stock options have an exercise price of $49.53 per share, which was PTCT's closing price on April 25, 2025.