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

PTC Therapeutics announced the approval of equity compensation awards for 34 new employees on June 16, 2025.

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Rhea-AI Summary

PTC Therapeutics announced the approval of equity compensation awards for 34 new employees on June 16, 2025. The inducement grants include 12,725 non-statutory stock options with an exercise price of $51.87 per share and 27,790 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. The RSUs also vest over 4 years with 25% vesting annually. These awards were granted under Nasdaq Listing Rule 5635(c)(4) as part of the new employees' compensation packages and were approved by PTC's Compensation Committee.

Positive

Company is expanding its workforce with 34 new hires
Structured equity compensation plan helps attract and retain talent

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06/19/2025 - 04:30 PM EDT

WARREN, N.J., June 19, 2025 /PRNewswire/ -- PTC Therapeutics, Inc. (NASDAQ: PTCT) today announced that on June 16, 2025, the company approved non-statutory stock options to purchase an aggregate of 12,725 shares of its common stock and 27,790 restricted stock units ("RSUs"), each representing the right to receive one share of its common stock upon vesting, to 34 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 June 16, 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 $51.87 per share, the closing price of PTC's common stock on June 16, 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 focused on the discovery, development and commercialization of clinically differentiated medicines that provide benefits to children and adults living with rare disorders. PTC's ability to globally commercialize products is the foundation that drives investment in a robust and diversified pipeline of transformative medicines and our mission to provide access to best-in-class treatments for patients who have an unmet medical need. The company's strategy is to leverage its strong scientific expertise and global commercial infrastructure to maximize value for its patients and other stakeholders. To learn more about PTC, please visit www.ptcbio.com and follow 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

View original content to download multimedia:https://www.prnewswire.com/news-releases/ptc-therapeutics-reports-inducement-grants-under-nasdaq-listing-rule-5635c4-302486484.html

SOURCE PTC Therapeutics, Inc.

FAQ

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What type of equity awards did PTC Therapeutics (PTCT) grant to new employees?

PTC Therapeutics granted 12,725 non-statutory stock options at $51.87 per share and 27,790 restricted stock units (RSUs) to 34 new employees.

What is the vesting schedule for PTCT's new employee stock options?

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' new employee grants?

The RSUs vest over 4 years with 25% of the original shares vesting on each annual anniversary of the employee's hire date.

What was the exercise price for PTCT's new employee stock options?

The stock options have an exercise price of $51.87 per share, which was the closing price of PTC's common stock on June 16, 2025.

Under which Nasdaq rule were PTC Therapeutics' inducement grants approved?

The inducement grants were approved under Nasdaq Listing Rule 5635(c)(4) as a component of new hire employment compensation.

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