Annexon Reports Inducement Grant to New Employee Under Nasdaq Listing Rule 5635(c)(4)
Published
BRISBANE, Calif., March 18, 2024 (GLOBE NEWSWIRE) -- Annexon, Inc. (Nasdaq: ANNX), a clinical-stage biopharmaceutical company developing a new class of complement-based medicines for people living with devastating inflammatory-related diseases, today announced that it has granted inducement to a new non-executive employee under the terms of the 2022 Employment Inducement Award Plan. The equity award was approved on March 15, 2024, in accordance with Nasdaq Listing Rule 5635(c)(4).The new non-executive employee received an option to purchase 3,500 shares of Annexon common stock. The option carries a ten-year term and an exercise price per share equal to $6.69, which was the closing price of Annexon’s common stock on March 15, 2024, the date of grant, and vests over 4 years, with 25% of the shares underlying the options vesting on the first anniversary of the grant date and an additional 1/48th of the shares vesting monthly thereafter, subject to continued service through the applicable vesting dates.
*About Annexon*
Annexon Biosciences (Nasdaq: ANNX) is a clinical-stage biopharmaceutical company utilizing a distinct scientific approach to stop C1q and all inflammatory aspects of classical complement pathway activation before it starts. As the only company solely focused on targeting C1q, Annexon is developing a fit-for-purpose pipeline of therapeutics designed to provide meaningful benefits across multiple diseases of the body, brain and eye. With proof-of concept data in both Guillain-Barré syndrome and geographic atrophy, Annexon is rigorously advancing its mid-to late-stage clinical trials to bring their potential treatments to patients as quickly as possible. To learn more visit annexonbio.com.
*Investor Contact:*
Joyce Allaire
LifeSci Advisors
jallaire@lifesciadvisors.com