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Achieve Life Sciences Announces Granting of New Hire Inducement Award | ||
By: GlobeNewswire - 27 Jan 2023 | Back to overview list |
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SEATTLE, Wash and VANCOUVER, British Columbia, Jan. 27, 2023 (GLOBE NEWSWIRE) -- Achieve Life Sciences, Inc. (Nasdaq: ACHV), a late-stage pharmaceutical company committed to the global development and commercialization of cytisinicline for smoking cessation and nicotine addiction, today announced that the Company has issued an inducement grant of stock options to a new employee. Achieve’s Board of Directors approved the new employment inducement grant to purchase 15,000 shares of Achieve’s common stock with the grant awarded on?January 25, 2023. Achieve granted the stock options as a material inducement to the new employee for entering into an employment agreement with?Achieve in accordance with Nasdaq Listing Rule 5635(c)(4). The stock options approved under the inducement grant were issued pursuant to a stock option agreement on terms substantially similar to Achieve’s 2018 Equity Incentive Plan and have a per share exercise equal to the closing price of Achieve’s common stock on January 25, 2023. The stock options vest over four years, with 25% vesting on the first anniversary of the employee’s start date and 1/36TH?of the remaining shares vesting monthly thereafter, subject to the employee’s continued employment on each such date. The stock options have a 10-year term and are subject to the terms and conditions of the stock option agreements. About Achieve and Cytisinicline? In addition, there are nearly 11 million adults in the United States who use e-cigarettes, also known as vaping.3 While nicotine e-cigarettes are thought to be less harmful than combustible cigarettes, they remain addictive and can deliver harmful chemicals which can cause lung injury or cardiovascular disease.4 In 2021, e-cigarettes were the most commonly used tobacco product reported by 1.72 million high school students.5 Research shows adolescents who have used e-cigarettes are seven times more likely to become smokers one year later compared to those who have never vaped.6 Currently, there are no FDA-approved treatments indicated specifically as an aid to nicotine e-cigarette cessation. Investor Relations Contact? Media Contact References |
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