Alector Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4)
09 December 2022 - 08:30AM
Alector, Inc. (Nasdaq: ALEC), a clinical-stage biotechnology
company pioneering immuno-neurology and innate immuno-oncology,
today announced that on December 6, 2022, the compensation
committee of Alector’s board of directors granted 8 (eight)
new employees options to purchase an aggregate of 91,851
shares of the company’s common stock and restricted stock units
(RSUs) for an aggregate of 40,961 shares of the company’s common
stock. These awards are made under Alector’s 2022 Inducement Equity
Incentive Plan (the “Plan”).
The stock options each have an exercise price of
$9.27 per share, equal to the closing price of Alector’s common
stock on December 6, 2022. The stock options each have a ten-year
term and vest over a period of four years with one forty-eighth of
the shares vesting each month. The RSUs vest over a period of three
years with one-twelfth of the shares vesting quarterly.
The above-described awards were each granted as
an inducement material to the employees entering into employment
with the company in accordance with Nasdaq Listing Rule 5635(c)(4)
and were granted pursuant to the terms of the Plan.
About Alector
Alector is a clinical-stage biotechnology
company pioneering immuno-neurology, a novel therapeutic approach
for the treatment of neurodegenerative diseases, and innate
immuno-oncology. 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 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 Contacts:
1AB (media) Dan Budwick 973-271-6085 dan@1abmedia.com
Argot Partners (investors) Carrie McKim Argot
Partners212.600.1902alector@argotpartners.com
Source: Alector, Inc.
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