Horizon Pharma Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
DEERFIELD, IL -- (Marketwired) -- 12/19/13 -- Horizon Pharma, Inc.
(NASDAQ: HZNP) today announced that on December 18, 2013 the
Compensation Committee of its Board of Directors approved the grant
of inducement stock options to purchase an aggregate of 88,800 shares
of common stock to 22 new employees.
Each stock option has an exercise price per share equal to $6.78, the
fair market value on the grant date, and vests over four years, with
25% of the shares vesting on the one-year anniversary of the
applicable vesting commencement date and 1/48 of the shares vesting
monthly thereafter, subject to the new employee's continued service
relationship with the Company. Each stock option also has a ten year
term and is subject to the terms and conditions of the Company's 2011
Equity Incentive Plan and the stock option agreement pursuant to
which the option was granted.
The stock options were granted as inducements material to the new
employees entering into employment with Horizon Pharma in accordance
with NASDAQ Listing Rule 5635(c)(4).
About Horizon Pharma
Horizon Pharma, Inc. is a commercial stage,
specialty pharmaceutical company that markets DUEXIS(R),
RAYOS(R)/LODOTRA(R) and VIMOVO(R), which target unmet therapeutic
needs in arthritis, pain and inflammatory diseases. The Company's
strategy is to develop, acquire or in-license additional innovative
medicines where it can execute a targeted commercial approach among
specific target physicians such as primary care physicians,
orthopedic surgeons, and rheumatologists, while taking advantage of
its commercial strengths and the infrastructure the Company has put
in place. For more information, please visit www.horizonpharma.com.
Robert J. De Vaere
Executive Vice President and Chief Financial Officer
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