Annexon Reports Inducement Grants to New Employees Under Nasdaq Listing Rule 5635(c)(4)
BRISBANE, Calif., May 16, 2023 (GLOBE NEWSWIRE) -- Annexon, Inc. (Nasdaq: ANNX), a clinical-stage biopharmaceutical company developing a new class of complement medicines for patients with classical complement-mediated autoimmune, neurodegenerative and ophthalmic disorders, today announced that it has granted equity inducement awards to two new non-executive employees under the terms of the 2022 Employment Inducement Award Plan. The equity awards were approved on May 15, 2023, in accordance with Nasdaq Listing Rule 5635(c)(4).
In the aggregate, the new non-executive employees received options to purchase 119,000 shares of Annexon common stock. The options carry a ten-year term and an exercise price per share equal to $6.06, which was the closing price of Annexon’s common stock on May 15, 2023, the date of grant, and vest over four years, with 25% of the shares underlying the options vesting on the first anniversary of each employee’s employment start date, and an additional 1/48th of the shares vesting monthly thereafter, subject to continued service through the applicable vesting dates.
Annexon (Nasdaq: ANNX) is a clinical-stage biopharmaceutical company seeking to bring game-changing medicines to patients with classical complement-mediated diseases of the body, brain and eye. The classical complement pathway within the immune system, when overactivated, drives inflammation in a host of autoimmune, neurodegenerative and ophthalmic diseases. Annexon is advancing a new class of complement medicines targeting the early classical cascade and all downstream pathway components that contribute to disease, while selectively preserving the beneficial immune functions of other complement pathways. Annexon is rigorously developing a pipeline of diversified product candidates across multiple mid- to late-stage clinical trials, with clinical data anticipated throughout 2023 and beyond.
THRUST Strategic Communications