SAN DIEGO–(Small business WIRE)–Arena Prescribed drugs, Inc. (Nasdaq: ARNA) currently introduced that on January 15, 2021, the Payment Committee of its Board of Administrators granted to five new personnel inducement inventory alternatives to buy an combination of 16,950 shares of its prevalent stock and 3,470 inducement limited inventory models (“RSUs”). The inducement inventory selections and RSUs have a grant day and vesting graduation day of January 15, 2021 and have been granted as inducements product to the new workforce getting into work with Arena in accordance with Nasdaq Listing Rule 5635(c)(4).
The inducement inventory possibilities are non-competent stock options, have a 7-calendar year expression, have an work out value of $80.50 for each share, the closing price tag of Arena’s widespread stock on the grant day, and vest over four a long time, with 25% of the shares vesting on the a single-calendar year anniversary of the vesting graduation day and the remaining 75% of the shares vesting in significantly equivalent regular installments in excess of the adhering to 36 months, issue to the new employee’s continued service with Arena by means of the relevant vesting dates. The inducement RSUs vest around four several years, with 25% of the shares vesting on the initial specified quarterly vesting date on or subsequent the one-calendar year anniversary of the vesting commencement date and the remaining 75% of the shares vesting in 12 significantly equal quarterly installments happening on the adhering to 12 quarterly vesting dates, subject to the new employee’s continued services with Arena by way of the relevant vesting dates. The inducement inventory selections and inducement RSUs are matter to the conditions and ailments of Arena’s Amended and Restated 2020 Extended-Phrase Incentive Prepare.
About Arena Prescribed drugs
ARENA Pharmaceuticals is a team with a singular reason – supply our critical medications to sufferers.
In a swiftly altering global marketplace, we operate with a sense of urgency each day to understand the demands of all our stakeholders, identify bold, often disruptive, thoughts to get our medicines to patients, and relentlessly execute till it is done.
ARENA – Care Much more. Act Otherwise.
Ahead-On the lookout Statements
Sure statements in this press release are ahead-searching statements that require a variety of risks and uncertainties. This kind of forward-looking statements incorporate statements about Arena’s function, do the job, being familiar with, ideas, and execution. For these kinds of statements, Arena claims the defense of the Non-public Securities Litigation Reform Act of 1995. Genuine gatherings or results may well vary materially from Arena’s expectations. Variables that could cause precise results to vary materially from the ahead-searching statements incorporate people disclosed in Arena’s filings with the Securities and Trade Fee. These forward-seeking statements stand for Arena’s judgment as of the time of this launch. Arena disclaims any intent or obligation to update these ahead-wanting statements, other than as may be required beneath applicable regulation.