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Alder BioPharmaceuticals® Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
BOTHELL, Wash., Jan. 25, 2019 (GLOBE NEWSWIRE) -- Alder BioPharmaceuticals, Inc. (NASDAQ: ALDR), a biopharmaceutical company focused on developing novel therapeutic antibodies for the treatment of migraine, today reported that the Compensation Committee of Alder’s Board of Directors granted a non-qualified stock option to purchase an aggregate of 250,000 shares of Alder’s common stock to Paul D. Streck under Alder’s 2018 Inducement Award Plan, effective January 21, 2019.
The stock option will vest with respect to 25% of the shares underlying the option one year after Dr. Streck’s employment start date, and the remaining 75% of the shares underlying the option will vest in equal monthly installments over the 36 month period following the one year anniversary of the Dr. Streck’s employment start date, subject to his continued service to Alder through each relevant vesting date. The option has a ten year term and an exercise price of $13.42 per share, which is equal to the closing price of Alder’s common stock on January 18, 2019.
The stock option was granted as an inducement material to the employee’s entering into employment with Alder in accordance with Nasdaq Listing Rule 5635(c)(4).
About Alder BioPharmaceuticals, Inc.
Alder BioPharmaceuticals is a clinical-stage biopharmaceutical company focused on transforming the migraine treatment paradigm through the discovery, development and commercialization of novel therapeutic antibodies. Alder’s lead product candidate, eptinezumab, is a monoclonal antibody (mAb) that inhibits calcitonin gene-related peptide (CGRP) and is currently in late-stage clinical development for the prevention of migraine. Unlike other CGRP inhibitors, eptinezumab was specifically designed as an infusion therapy to address significant patient need. Alder is also developing ALD1910, a preclinical mAb that inhibits pituitary adenylate cyclase-activating polypeptide-38 (PACAP-38) for migraine prevention. For more information, please visit www.alderbio.com.
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Stern Investor Relations, Inc.