May 28, 2024

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Arena Prescribed drugs Reports Inducement Grants Underneath Nasdaq Listing Rule 5635(c)(4)

SAN DIEGO–(Company WIRE)–Arena Prescribed drugs, Inc. (Nasdaq: ARNA) nowadays introduced that on January 15, 2021, the Compensation Committee of its Board of Directors granted to 5 new personnel inducement stock options to obtain an mixture of 16,950 shares of its prevalent stock and 3,470 inducement limited inventory units (“RSUs”). The inducement inventory solutions and RSUs have a grant day and vesting graduation date of January 15, 2021 and had been granted as inducements material to the new staff coming into employment with Arena in accordance with Nasdaq Listing Rule 5635(c)(4).

The inducement stock selections are non-certified stock options, have a seven-calendar year phrase, have an workout value of $80.50 per share, the closing value of Arena’s popular stock on the grant date, and vest in excess of four decades, with 25% of the shares vesting on the 1-yr anniversary of the vesting graduation day and the remaining 75% of the shares vesting in significantly equal month-to-month installments over the pursuing 36 months, subject to the new employee’s ongoing company with Arena via the relevant vesting dates. The inducement RSUs vest above four decades, with 25% of the shares vesting on the very first designated quarterly vesting date on or subsequent the a person-year anniversary of the vesting graduation date and the remaining 75% of the shares vesting in 12 considerably equal quarterly installments developing on the following 12 quarterly vesting dates, matter to the new employee’s continued services with Arena by means of the applicable vesting dates. The inducement inventory selections and inducement RSUs are subject to the terms and conditions of Arena’s Amended and Restated 2020 Extended-Time period Incentive Prepare.

About Arena Prescribed drugs

ARENA Pharmaceuticals is a crew with a singular goal – produce our significant medications to people.

In a fast shifting world market, we function with a perception of urgency each individual day to realize the requires of all our stakeholders, recognize bold, at times disruptive, tips to get our medicines to clients, and relentlessly execute until it is carried out.

ARENA – Care A lot more. Act Otherwise.

Ahead-Seeking Statements

Selected statements in this press release are forward-wanting statements that include a variety of dangers and uncertainties. These types of forward-hunting statements consist of statements about Arena’s objective, get the job done, knowledge, concepts, and execution. For this sort of statements, Arena promises the safety of the Private Securities Litigation Reform Act of 1995. Actual occasions or outcomes may differ materially from Arena’s anticipations. Factors that could cause real success to differ materially from the ahead-hunting statements include those disclosed in Arena’s filings with the Securities and Exchange Fee. These forward-on the lookout statements depict Arena’s judgment as of the time of this launch. Arena disclaims any intent or obligation to update these ahead-searching statements, other than as might be demanded under relevant law.