WAYNE, PA — Aclaris Therapeutics, Inc. (NASDAQ: ACRS) has granted stock options and restricted stock units (RSUs) to multiple new employees, including its recently appointed President and Chief Operating Officer, Hugh Davis, Ph.D., under the company’s 2024 Inducement Plan. These grants, effective December 2, 2024, were issued as material incentives for new employees joining the organization, in line with NASDAQ Listing Rule 5635(c)(4).
Dr. Davis received nonstatutory stock options to purchase 375,000 shares of Aclaris’ common stock and 107,000 restricted stock units. Additionally, four other new hires were awarded an aggregate of 251,000 stock options and 73,000 RSUs. All stock options have an exercise price of $3.96 per share, which matches the closing price of Aclaris’ common stock on the grant date.
The 2024 Inducement Plan is specifically designed to grant equity awards to employees new to the company, offering incentives for top talent to join and contribute to Aclaris’ growth. The awarded stock options and RSUs follow a four-year vesting schedule, with 25% vesting each year on the anniversary of an employee’s start date, contingent on continued employment.
These grants highlight Aclaris’ efforts to strengthen its leadership team and attract skilled professionals to advance its business objectives. By leveraging the inducement plan, Aclaris aims to align employee incentives with shareholder value creation, bolstering the company’s strategic focus in the biotechnology sector.
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