Aurinia Reports New Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
07 March 2023 - 08:00AM
Business Wire
Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH) (Aurinia or the
Company), a biopharmaceutical company committed to delivering
therapeutics that change the course of autoimmune, kidney and rare
diseases, announced that the Company’s Compensation Committee
granted 3 new employees inducement stock options to purchase an
aggregate of 89,830 common shares, at a per share exercise price of
$8.99, the closing price of Aurinia's common stock on March 3,
2023, and an aggregate of 54,850 inducement restricted stock units
(RSUs). The inducement stock options and RSUs have a grant date of
March 6, 2023. 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 vesting on the twelve
month anniversary from the grant date, and the remaining options
vesting in twenty-four equal monthly installments thereafter.
The inducement RSUs shall vest in three equal annual
installments on the first, second and third anniversary of the
grant date.
About Aurinia
Aurinia is a fully integrated biopharmaceutical company focused
on delivering therapies to treat targeted patient populations that
are impacted by autoimmune, kidney and rare diseases with a high
unmet medical need. In January 2021, the Company introduced
LUPKYNIS® (voclosporin), the first FDA-approved oral therapy 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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Investor/Media Contact: Aurinia@westwicke.com
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