Assembly Biosciences Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
06 February 2021 - 9:00AM
Assembly Biosciences, Inc. (Nasdaq: ASMB), a clinical-stage
biotechnology company developing innovative therapeutics targeting
hepatitis B virus (HBV), today announced grants of stock options to
three new employees to purchase an aggregate of 38,000 shares of
the Company’s common stock with an exercise price of $5.79 per
share, the closing price of Assembly Bio’s common stock on February
1, 2021. The stock options were granted as material inducements to
the new employees to accept the Company’s offers of employment.
The stock options have a ten-year term and vest
over four years, with one-fourth vesting on the first anniversary
of the date of grant and the remaining three-fourths vesting in
approximately equal monthly installments. The stock options are, in
all cases, subject to the new employees’ continued service with
Assembly Bio through the applicable vesting dates and to
acceleration upon the occurrence of certain events as set forth in
the award agreements evidencing the stock options. None of the new
employees are executive officers.
The stock options were granted outside of
Assembly Bio’s stockholder-approved equity incentive plans pursuant
to Assembly Bio’s 2020 Inducement Award Plan. The stock option
awards were approved by the Compensation Committee of Assembly
Bio’s Board of Directors, which is comprised solely of independent
directors, as a material inducement to entering into employment
with Assembly Bio in accordance with Nasdaq Listing Rule
5635(c)(4), which requires this public announcement.
About Assembly
BiosciencesAssembly Biosciences, Inc. is a
clinical-stage biotechnology company developing innovative
therapeutics targeting hepatitis B virus (HBV). The HBV program is
focused on advancing a new class of potent, oral core inhibitors
that have the potential to increase cure rates for chronically
infected patients.
For more information,
visit assemblybio.com.
ContactsAssembly BioLauren
GlaserSenior Vice President, Investor Relations and Corporate
Affairs(415) 521-3828lglaser@assemblybio.com
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