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Strongbridge Biopharma announces new employment inducement awards.

Strongbridge Biopharma announced that it has approved inducement equity awards to eight individuals who have recently become, or are expected to become, employees of the Company. The inducement awards are being made in the form of non-qualified stock options to purchase an aggregate of 208,500 ordinary shares of the Company and restricted stock units representing 17,000 ordinary shares of the Company, and are being made as a material inducement to these individuals to enter into employment with the Company pursuant to NASDAQ Listing Rule 5635(c)(4). The exercise price for each of the options is equal to the closing price of the Company's ordinary shares on the grant date. One quarter of each of the options will vest on the one-year anniversary of the grant date of such option and the remaining three quarters will vest in 12 equal quarterly installments following the one-year anniversary of the grant date, subject to the employee's continuous employment with the Company. The options will have a ten-year term. The RSUs will vest on the two-year anniversary of the grant date, subject to the employee's continuous employment with the Company. The options and RSUs will be subject to the terms and conditions of the Company's 2017 Inducement Plan, pursuant to which the options and RSUs have been granted.

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Publication:The Fly
Date:Jul 19, 2019
Words:217
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