Aegerion Pharma Reserves Shares for Inducement Stock Options
Aegerion Pharmaceuticals, Inc. (Nasdaq: AEGR), an emerging biopharmaceutical company focused on the development and commercialization of novel therapeutics to treat debilitating and often fatal rare diseases, today announced that, in support of Aegerion's build of its U.S. commercial organization and international expansion, the Compensation Committee of the Company's Board of Directors has approved the reservation of 1,000,000 shares of common stock to be used exclusively for the grant of non-qualified stock options to individuals who were not previously an employee or non-employee director of Aegerion (or following a bona fide period of non-employment), as an inducement new hire stock option award material to an individual's entry into employment within the meaning of Rule 5635(c)(4) of the NASDAQ Listing Rules (Inducement Stock Options).
On December 3, 2012, Aegerion granted stock options to purchase an aggregate of 218,600 shares of common stock to 23 new employees under the inducement grant program. Each stock option has an exercise price per share equal to $21.55, the closing price of Aegerion's common stock on the grant date, and vests in equal monthly installments over four years. Each stock option has a ten year term and will be subject to the terms and conditions of a stock option agreement covering the grant.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.