SOUTH SAN FRANCISCO, CA--(Marketwire - November 03, 2008) - Theravance, Inc. (NASDAQ: THRX) today reported that equity awards were made to three new employees. Pursuant to Nasdaq Marketplace Rule 4350(i)(1)(A)(iv), the equity awards were granted under the Theravance, Inc. 2008 New Employee Equity Incentive Plan, which the Board of Directors of Theravance adopted to facilitate the granting of equity awards to new employees. In accordance with Nasdaq rules, these grants were made under an equity incentive plan without stockholder approval. Nasdaq rules require a public announcement of equity awards to be made under this type of plan. Three employees were granted options to purchase an aggregate of 23,750 shares of the Company’s common stock, which options vest over four years and expire in 10 years assuming continued employment. No officers received any award under this plan. The exercise price for the option shares granted is $6.70, which was the closing price of Theravance common stock on the Nasdaq Global Market as such price was reported by NASDAQ on the date of grant.
