Aclaris Therapeutics Announces Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
WAYNE, Pa., Jan. 06, 2025 (GLOBE NEWSWIRE) -- Aclaris Therapeutics, Inc. (NASDAQ: ACRS) (the “Company” or “Aclaris”), a clinical-stage biopharmaceutical company focused on developing novel drug candidates for immuno-inflammatory diseases, today announced that effective January 2, 2025, the Compensation Committee of Aclaris’ Board of Directors (the Committee) granted nonstatutory stock options to purchase an aggregate of 215,000 shares of its common stock and 61,000 restricted stock units to 1 new employee under the Aclaris Therapeutics, Inc. 2024 Inducement Plan (the “2024 Inducement Plan”). The stock options and restricted stock units were granted as inducements material to the new employee becoming an employee of Aclaris in accordance with NASDAQ Listing Rule 5635(c)(4).
The 2024 Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously an employee or non-employee director of Aclaris (or following a bona fide period of non-employment), as an inducement material to such individuals’ entering into employment with Aclaris, pursuant to Rule 5635(c)(4) of the NASDAQ Listing Rules.
The options have an exercise price of $2.48 per share, which is equal to the closing price of Aclaris’ common stock on January 2, 2025. Each option and restricted stock unit award will vest, and become exercisable (as applicable), as to twenty-five percent of the shares on each of the first, second, third, and fourth anniversaries of the grant date, subject to the employee's continued employment with Aclaris on such vesting dates. The options and restricted stock unit awards are subject to the terms and conditions of Aclaris' 2024 Inducement Plan, and the terms and conditions of a stock option agreement or restricted stock unit award agreement, as applicable, covering the grant.
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