Alector Reports Inducement Grants as permitted by the Nasdaq Listing Rules
02 March 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 Marc Grasso, M.D., the company’s newly-hired Chief
Financial Officer, an inducement equity grant on March 1,
2022, consisting of inducement stock options to purchase an
aggregate of 450,000 shares of the company’s common stock. These
inducement stock options 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 $15.49 per
share, which is equal to the closing price of Alector’s common
stock on the grant date. The inducement stock options vest monthly
over 48 months in equal monthly amounts subject to Dr. Grasso’s
continued employment with the Company.
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.
Contacts
1AB (media)Dan Budwick973-271-6085dan@1abmedia.com
Argot Partners (investors)Laura Perry/Eric KasperArgot
Partners212.600.1902alector@argotpartners.com
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