Aurinia Reports New Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
02 August 2022 - 6:05AM
Business Wire
Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH) (Aurinia or the
Company), a biopharmaceutical company committed to delivering
therapeutics that change the course of autoimmune disease,
announced that the Company’s Compensation Committee granted, in
connection with the previously announced appointments of Volker
Knappertz, M.D. as Executive Vice President of Research and
Development and Scott Habig as Chief Commercial Officer, an
aggregate of 488,095 inducement stock options and an aggregate of
290,343 inducement restricted stock units (RSUs). Additionally, the
Company's Compensation Committee granted 10 new employees an
aggregate of 123,100 inducement stock options and an aggregate of
73,700 inducement RSUs. The options have a per share exercise price
of $8.18, the closing price of Aurinia's common stock on July 29,
2022. The inducement stock options and RSUs have a grant date of
August 1, 2022. The stock options and RSUs were granted as
inducements material to the new employees entering employment with
Aurinia in accordance with Nasdaq Listing Rule 5635(c)(4).
The inducement stock options have a ten-year term and vest over
three years with one-third of the shares subject to the option
vesting twelve months from the grant date, and the remainder
vesting in twenty-four equal monthly installments thereafter.
The inducement RSUs shall vest in three equal annual
installments beginning August 1, 2023.
About Aurinia
Aurinia Pharmaceuticals is a fully integrated biopharmaceutical
company focused on delivering therapies to treat targeted patient
populations that are impacted by serious diseases with a high unmet
medical need. In January 2021, the Company introduced LUPKYNIS®
(voclosporin), the first FDA-approved oral therapy dedicated for
the treatment of adult patients with active lupus nephritis. The
Company’s head office is in Victoria, British Columbia, its U.S.
commercial office is in Rockville, Maryland. The Company focuses
its development efforts globally.
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version on businesswire.com: https://www.businesswire.com/news/home/20220801005741/en/
Investor/Media: DeDe Sheel Vice President Investor Relations,
Aurinia dsheel@auriniapharma.com
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