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

Rhea-AI Summary

Ultragenyx Pharmaceutical (NASDAQ: RARE) has announced the grant of 23,760 restricted stock units to 10 newly hired non-executive officers. The compensation committee approved these awards under the Ultragenyx Employment Inducement Plan, with a grant date of February 16, 2025. The grants, made in accordance with Nasdaq Listing Rule 5635(c)(4), serve as employment inducements for the new hires.

The restricted stock units have a four-year vesting schedule, with 25% of the shares vesting annually on the grant date anniversary, contingent on continuous employment.

Positive

• Stock-based compensation aligns new employee interests with shareholders

Negative

• Potential shareholder dilution from 23,760 new restricted stock units

NOVATO, Calif., Feb. 19, 2025 (GLOBE NEWSWIRE) -- Ultragenyx Pharmaceutical Inc. (NASDAQ: RARE), a biopharmaceutical company focused on the development and commercialization of novel therapies for rare and ultrarare diseases, today reported the grant of 23,760 restricted stock units of the company’s common stock to 10 newly hired non-executive officers of the company. The awards were 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 February 16, 2025, as an inducement material to the new employees 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.

About Ultragenyx Pharmaceutical Inc.
Ultragenyx is a biopharmaceutical company committed to bringing novel products to patients for the treatment of serious rare and ultrarare 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

How many restricted stock units did Ultragenyx (RARE) grant in February 2025?

Ultragenyx granted 23,760 restricted stock units to 10 newly hired non-executive officers on February 16, 2025.

What is the vesting schedule for Ultragenyx's (RARE) February 2025 restricted stock units?

The restricted stock units vest over four years, with 25% vesting on each anniversary of the February 16, 2025 grant date.

How many new employees received Ultragenyx (RARE) restricted stock units in February 2025?

10 newly hired non-executive officers received restricted stock units.

Under which rule were Ultragenyx's (RARE) February 2025 stock grants made?

The grants were made in accordance with Nasdaq Listing Rule 5635(c)(4) as employment inducements.