NEW YORK--(BUSINESS WIRE)--Retrophin, Inc. (NASDAQ:RTRX) today announced the grant of inducement awards to 66 employees, as well as the grant of an inducement award to Alvin Shih, M.D., the Company’s Executive Vice President of Research and Development. The awards were granted as an inducement material to each such employee’s entering into employment with Retrophin pursuant to Rule 5635(b)(4) of the NASDAQ Listing Rules. 66 employees were granted inducement awards consisting of stock options to purchase an aggregate of 2,014,500 shares of Retrophin common stock and 200,000 shares of restricted common stock, and Dr. Shih was granted an inducement award consisting of 230,000 shares of restricted common stock. The stock options and restricted common stock generally vest in equal quarterly installments over a period of three years. The stock options are nonstatutory stock options and have an exercise price equal to the fair market value of Retrophin’s common stock on their grant date.
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