World News: 22:00 GMT Friday 14th September 2018. [Alder BioPharmaceuticals, Inc. via Globe Newswire via SPi World News]
BOTHELL, Wash., Sept. 14, 2018 (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 40,000 shares of Alder’s common stock to a new employee under Alder’s 2018 Inducement Award Plan, effective September 12, 2018.
The stock option will vest with respect to 25% of the shares underlying the option one year after the employee’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 employee’s employment start date, subject to the employee’s continued service to Alder through each relevant vesting date. The option has a ten year term and an exercise price of $18.20 per share, which is equal to the closing price of Alder’s common stock on September 12, 2018.
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).
Globe Newswire: 22:00 GMT Friday 14th September 2018
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