Alector Reports Inducement Grants as permitted by the Nasdaq Listing Rules
04 January 2022 - 8:30AM
Alector, Inc. (Nasdaq: ALEC), a clinical-stage biotechnology
company pioneering immuno-neurology, today announced that the
compensation committee of Alector’s board of directors granted Sara
Kenkare-Mitra, Ph.D., the company’s newly-hired President and Head
of Research and Development an inducement equity grant on January
3, 2022, consisting of inducement stock options to purchase an
aggregate of 300,000 shares of the company’s common stock,
inducement restricted stock units, or RSUs, covering an aggregate
of 59,000 shares of the company’s common stock, and inducement
performance stock units, or PSUs, covering an aggregate of 59,000
shares of the company’s common stock. These inducement stock
options, inducement RSUs, and inducement PSUs are subject to the
terms of Alector’s 2022 Inducement Equity Incentive Plan and
related forms of agreements and were granted as inducements
material to new employees entering into employment with Alector in
accordance with Nasdaq Listing Rule 5635(c)(4).
The stock options have an exercise price of $20.78 per
share, which is equal to the closing price of Alector’s common
stock on the grant date. The inducement stock options vest over
four years, the inducement RSUs vest over three years, and the
inducement PSUs have stock price thresholds at $30 per share and
$40 per share within four years. The stock price thresholds for the
PSUs will be split with 25% of PSUs having a $30 per share
threshold and 75% of PSUs having a $40 per share threshold.
About Alector
Alector is a clinical-stage biotechnology company pioneering
immuno-neurology, a novel therapeutic approach for the treatment of
neurodegenerative diseases. Immuno-neurology targets immune
dysfunction as a root cause of multiple pathologies that are
drivers of degenerative brain disorders. Alector has discovered and
is developing a broad portfolio of innate immune system programs,
designed to functionally repair genetic mutations that cause
dysfunction of the brain’s immune system and enable the rejuvenated
immune cells to counteract emerging brain pathologies. Alector’s
immuno-neurology product candidates are supported by biomarkers and
target genetically defined patient populations in frontotemporal
dementia and Alzheimer’s disease. This scientific approach is also
the basis for the company’s immuno-oncology programs. Alector is
headquartered in South San Francisco, California. For additional
information, please visit www.alector.com.
Alector ContactsMichelle CorralVP,
Communications and Investor
Relations650-808-7016michelle.corral@alector.com
1AB (media)Dan Budwick973-271-6085dan@1abmedia.com
Argot Partners (investors)Laura Perry/Eric KasperArgot
Partners212.600.1902alector@argotpartners.com
Alector (NASDAQ:ALEC)
Historical Stock Chart
From Mar 2024 to Apr 2024
Alector (NASDAQ:ALEC)
Historical Stock Chart
From Apr 2023 to Apr 2024