Aurinia Reports New Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
VICTORIA, British Columbia--(BUSINESS WIRE)-- Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH) (Aurinia or the Company), a biopharmaceutical company committed to delivering therapeutics that change the course of autoimmune disease, announced that the Company’s Compensation Committee granted 4 new employees inducement stock options to purchase an aggregate of 20,800 common shares, at a per share exercise price of $7.52, the closing price of Aurinia's common stock on September 30, 2022, and an aggregate of 12,500 inducement restricted stock units (RSUs). The inducement stock options and RSUs have a grant date of October 3, 2022. The stock options and RSUs were granted as inducements material to the new employees entering employment with Aurinia in accordance with Nasdaq Listing Rule 5635(c)(4).
The inducement stock options have a ten-year term and vest over three years with one-third of the shares vesting on the twelve month anniversary from the grant date, and the remaining options vesting in twenty-four equal monthly installments thereafter.
The inducement RSUs shall vest in three equal annual installments on the first, second and third anniversary of the grant date.
Aurinia Pharmaceuticals is a fully integrated biopharmaceutical company focused on delivering therapies to treat targeted patient populations that are impacted by serious diseases with a high unmet medical need. In January 2021, the Company introduced LUPKYNIS® (voclosporin), the first FDA-approved oral therapy dedicated for the treatment of adult patients with active lupus nephritis. The Company’s head office is in Victoria, British Columbia, its U.S. commercial office is in Rockville, Maryland. The Company focuses its development efforts globally.
Vice President Investor Relations, Aurinia
Source: Aurinia Pharmaceuticals Inc.
Released October 3, 2022