EMERYVILLE, Calif., Aug. 01, 2018 (GLOBE NEWSWIRE) -- Zogenix, Inc. (Nasdaq:ZGNX), a pharmaceutical company developing therapies for the treatment of rare central nervous system (CNS) disorders, today announced that it has issued inducement awards to five new non-executive employees.
The awards were made on August 1, 2018 under Zogenix’s Employment Inducement Equity Incentive Award Plan, which provides for the granting of equity awards to new employees of Zogenix as an inducement to join the company. The inducement awards consist of options to purchase an aggregate of 32,000 shares of Zogenix common stock. The options have a ten-year term and an exercise price equal to $56.20, the fair market value of Zogenix common stock on the date of grant. The options vest over a four-year period, with 25% of the options vesting on the first anniversary of each employee’s respective start date and the remainder vesting in equal monthly installments over the three years thereafter. The awards were approved by the independent compensation committee of Zogenix’s board of directors and were granted as an inducement material to the new employees entering into employment with Zogenix in accordance with Nasdaq Marketplace Rule 5635(c)(4).
Zogenix (Nasdaq:ZGNX) is focused on developing therapies for patients with rare central nervous system (CNS) conditions that have limited or no treatment options but face a critical need. For more information, visit www.zogenix.com.
Investors: Andrew McDonald
Founding Partner, LifeSci Advisors LLC
646-597-6987 | Andrew@lifesciadvisors.com
Media: David Polk
Senior Media Relations Strategist, Syneos Health
310-309-1029 | email@example.com
Source: Zogenix, Inc.