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Aeglea BioTherapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
AUSTIN, Texas, June 29, 2018 (GLOBE NEWSWIRE) -- Aeglea BioTherapeutics, Inc. (NASDAQ:AGLE), a clinical-stage biotechnology company that designs and develops innovative human enzyme therapeutics for patients with rare genetic diseases and cancer, today announced that the Compensation Committee of its Board of Directors has granted non-qualified stock options to purchase an aggregate of 49,500 shares of Aeglea’s common stock to four new employees under Aeglea’s 2018 Equity Inducement Plan.
The 2018 Equity Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously an employee or non-employee director of Aeglea (or following a bona fide period of non-employment), as an inducement material to such individual's entering into employment with Aeglea, pursuant to Rule 5635(c)(4) of the NASDAQ Listing Rules.
The options have an exercise price of $10.61 per share, which is equal to the closing price of Aeglea’s common stock on June 27, 2018. Each of the option awards vests as to 25% of the shares on the one-year anniversary of its grant, with the remainder of the shares vesting ratably over 36 months thereafter.
About Aeglea BioTherapeutics
Aeglea is a clinical-stage biotechnology company that designs and develops innovative human enzyme therapeutics for patients with rare genetic diseases and cancer. Aeglea is developing pegzilarginase, its lead investigational therapy, for the treatment of Arginase 1 Deficiency, as monotherapy in arginine-dependent cancers and in combination with an immune checkpoint inhibitor for small cell lung cancer. In addition, Aeglea has an active research pipeline of other human enzyme-based approaches in both therapeutic areas. For more information, please visit http://aegleabio.com.
Sharon Merrill Associates
Charles N. York II
Chief Financial Officer