The awards were made pursuant to the NASDAQ inducement grant exception as a component of the new hires’ employment compensation.
|
[15-December-2017] |
SOUTH PLAINFIELD, N.J., Dec. 15, 2017 /PRNewswire/ --PTC Therapeutics, Inc.(NASDAQ: PTCT) today announced that on December 11, 2017 it approved non-statutory stock options to purchase an aggregate of 10,000 shares of its common stock to two new employees. The awards were made pursuant to the NASDAQ inducement grant exception as a component of the new hires' employment compensation. The inducement grants were approved by PTC's Compensation Committee on December 11, 2017 and are being made as an inducement material to each employee's acceptance of employment with the Company in accordance with NASDAQ Listing Rule 5635(c)(4). Both of the stock option awards have an exercise price of $16.25 per share, the closing price of PTC's common stock on December 11, 2017, the date of the grant. The stock options each have a 10-year term and vest over four years, with 25% of the original number of shares vesting on the first anniversary of the applicable employee's new hire date and 6.25% of the original number of shares vesting at the end of each subsequent three-month period thereafter until fully vested, subject to the employee's continued service with the Company through the applicable vesting dates. ABOUT PTC THERAPEUTICS, INC. For More Information: Investors: Media:
View original content:http://www.prnewswire.com/news-releases/ptc-therapeutics-reports-inducement-grants-under-nasdaq-listing-rule-5635c4-300572192.html SOURCE PTC Therapeutics, Inc. |
||
Company Codes: NASDAQ-NMS:PTCT |