Portola Pharmaceuticals Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
01 Novembre 2018 - 10:30PM
Portola Pharmaceuticals, Inc.® (NASDAQ: PTLA) announced today that
on October 26, 2018, the Compensation Committee of the Board of
Directors approved, effective as of October 31, 2018, the grant of
an inducement stock option to purchase 250,000 shares of common
stock and an award in the form of 125,000 restricted stock units to
Scott Garland, the Company’s newly appointed president and chief
executive officer.
The stock option shall have an exercise price per share of
$19.69, the closing price per share of the Company’s Common Stock
on October 31, 2018, and will vest over four years, with 25 percent
of the shares vesting on October 8, 2019, the one-year anniversary
of the vesting commencement date, and the remaining shares vesting
ratably over the subsequent 36 months, subject to Mr. Garland’s
continued service with the Company. The stock option has a ten-year
term and is subject to the terms and conditions of the Company’s
Inducement Plan and the stock option agreement pursuant to which
the option was granted. The shares subject to the restricted
stock unit award shall vest in three equal annual installments over
three years, with the first installment vesting on October 31,
2019, in each case subject to Mr. Garland’s continued service with
the Company.
The awards were granted as inducements material to Mr. Garland
entering into employment with Portola in accordance with NASDAQ
Listing Rule 5635(c)(4).
About Portola Pharmaceuticals, Inc.
Portola Pharmaceuticals is a commercial-stage
biopharmaceutical company focused on the discovery, development and
commercialization of novel therapeutics that could significantly
advance the fields of thrombosis and other hematologic diseases.
The Company’s two FDA-approved medicines are Andexxa® [coagulation
factor Xa (recombinant), inactivated-zhzo], the first and only
antidote for patients treated with rivaroxaban and apixaban when
reversal of anticoagulation is needed due to life-threatening or
uncontrolled bleeding, and Bevyxxa® (betrixaban), the first and
only oral, once-daily Factor Xa inhibitor for the prevention of VTE
in adult patients hospitalized for an acute medical illness. The
company also is advancing cerdulatinib, a Syk/JAK inhibitor for the
treatment of hematologic cancers.
Investor Contact:
Cara Miller
Portola Pharmaceuticalsir@portola.com
Media Contact:Laurie MasonsonPure
Communicationslmasonson@purecommunications.com
Portola Pharmaceuticals (NASDAQ:PTLA)
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