SOUTH PLAINFIELD, N.J., Dec. 4, 2020 /PRNewswire/ — PTC Therapeutics, Inc. (NASDAQ: PTCT) at the moment introduced that on December 2, 2020 it accredited non-statutory stock choices to buy an combination of 41,955 shares of its widespread stock and 20,735 restricted stock models (“RSUs”), every representing the proper to obtain one share of its widespread stock upon vesting, to 47 new workers. The awards have been made pursuant to the NASDAQ inducement grant exception as a element of the brand new hires’ employment compensation.
The inducement grants have been accredited by PTC’s Compensation Committee on December 2, 2020 and are being made as an inducement materials to every worker’s acceptance of employment with the Firm in accordance with NASDAQ Itemizing Rule 5635(c)(4).
All stock choice awards have an train price of $63.86 per share, the closing price of PTC’s widespread stock on December 2, 2020, the date of the grant. The stock choices every have a 10-year time period and vest over 4 years, with 25% of the unique variety of shares vesting on the primary anniversary of the relevant worker’s new rent date and 6.25% of the unique variety of shares vesting on the finish of every subsequent three-month interval thereafter till totally vested, topic to the worker’s continued service with the Firm by means of the relevant vesting dates. The RSUs every will vest over 4 years with 25% of the unique variety of shares vesting on every annual anniversary of the relevant worker’s new rent date till totally vested, topic to the worker’s continued service with the Firm by means of the relevant vesting dates.
ABOUT PTC THERAPEUTICS, INC.
PTC is a science-driven, international biopharmaceutical firm targeted on the invention, growth and commercialization of clinically-differentiated medicines that present advantages to sufferers with uncommon problems. PTC’s capability to globally commercialize merchandise is the muse that drives funding in a strong pipeline of transformative medicines and our mission to supply entry to best-in-class therapies for sufferers who’ve an unmet medical want.
SOURCE PTC Therapeutics, Inc.