Ultragenyx Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

Ultragenyx Pharmaceutical Inc. (NASDAQ: RARE) announced the grant of non-qualified stock options for 8,620 shares and 2,880 restricted stock units to a newly hired non-executive officer.

Rhea-AI Summary

Ultragenyx Pharmaceutical Inc. (NASDAQ: RARE) announced the grant of non-qualified stock options for 8,620 shares and 2,880 restricted stock units to a newly hired non-executive officer. This award, approved by the company's compensation committee, is part of the Ultragenyx Employment Inducement Plan, effective October 1, 2021. The stock options have a ten-year term with an exercise price of $87.80, equal to the stock's closing price on the grant date. The restricted stock units vest over four years, promoting long-term employment alignment.

Positive

• Granting stock options and restricted stock units may improve employee retention and motivation.
• The stock options and RSUs are structured to align employee interests with shareholder value over time.

Negative

• None.

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NOVATO, Calif., Oct. 04, 2021 (GLOBE NEWSWIRE) -- Ultragenyx Pharmaceutical Inc. (NASDAQ: RARE), a biopharmaceutical company focused on the development and commercialization of novel therapies for rare and ultra-rare diseases, today reported the grant of non-qualified stock options to purchase an aggregate of 8,620 shares of common stock of the company and 2,880 restricted stock units of the company’s common stock to one newly hired non-executive officer employee of the company. The award was approved by the compensation committee of the company’s board of directors and granted under the Ultragenyx Employment Inducement Plan, with a grant date of October 1, 2021, as an inducement material to the new employee entering into employment with Ultragenyx in accordance with Nasdaq Listing Rule 5635(c)(4).

The restricted stock units vest over four years, with 25% of the underlying shares vesting on each anniversary of the grant date, subject to the employee being continuously employed by the company as of such vesting dates. The stock options vest over four years, with 25% of the shares underlying the option vesting on the first anniversary of the grant date and the remainder vesting with respect to 1/48th of the shares underlying the options on each monthly anniversary thereafter, subject to the employee being continuously employed by the company as of such vesting dates. The stock options have a ten-year term and an exercise price of $87.80 per share, equal to the per share closing price of Ultragenyx’s common stock on October 1, 2021.

About Ultragenyx Pharmaceutical Inc.
Ultragenyx is a biopharmaceutical company committed to bringing novel products to patients for the treatment of serious rare and ultra-rare genetic diseases. The company has built a diverse portfolio of approved therapies and product candidates aimed at addressing diseases with high unmet medical need and clear biology for treatment, for which there are typically no approved therapies treating the underlying disease.

The company is led by a management team experienced in the development and commercialization of rare disease therapeutics. Ultragenyx’s strategy is predicated upon time- and cost-efficient drug development, with the goal of delivering safe and effective therapies to patients with the utmost urgency.

For more information on Ultragenyx, please visit the company's website at: www.ultragenyx.com.

Contact Ultragenyx
Investors & Media
Joshua Higa
(415) 475-6370

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What stock options were granted by Ultragenyx Pharmaceutical Inc.?

Ultragenyx granted 8,620 non-qualified stock options and 2,880 restricted stock units to a new non-executive officer.

What is the exercise price for the stock options granted by RARE?

The exercise price for the stock options is $87.80 per share.

When were the stock options granted to the new employee?

The stock options were granted on October 1, 2021.

What are the vesting terms for the stock options and restricted stock units at RARE?

The stock options vest 25% on the first anniversary and monthly thereafter over four years; the RSUs vest 25% on each anniversary over four years.

Under which plan were the stock options and RSUs granted?

The stock options and RSUs were granted under the Ultragenyx Employment Inducement Plan.