Alector Reports Inducement Grants as permitted by the Nasdaq Listing Rules
28 May 2022 - 6:30AM
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 Gary
Romano, M.D., Ph.D., the company’s newly-hired Chief Medical
Officer, an inducement equity grant on May 27, 2022, consisting of
inducement stock options to purchase an aggregate of 369,000 shares
of the company’s common stock and inducement restricted stock
units, or RSUs, covering an aggregate of 92,250 shares of the
company’s common stock. These inducement stock options and
inducement RSUs 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 $9.20 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 and the inducement RSUs vest
quarterly over three years, commencing on September 1, 2022, in
equal amounts, in each case subject to Dr. Romano’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 Budwick 973-271-6085 dan@1abmedia.com
Argot Partners (investors) Eric Kasper/Carrie McKim Argot
Partners 212.600.1902 alector@argotpartners.com
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