NAARDEN, the Netherlands and MIAMI, Jan. 09, 2025 (GLOBE NEWSWIRE) -- NewAmsterdam Pharma Company N.V. (Nasdaq: NAMS; "NewAmsterdam" or the "Company"), a late-stage, clinical biopharmaceutical company developing oral, non-statin medicines for patients at risk of cardiovascular disease ("CVD") with elevated low-density lipoprotein cholesterol ("LDL-C"), for whom existing therapies are not sufficiently effective or well-tolerated, today announced that the Compensation Committee of NewAmsterdam's Board of Directors approved the grant of inducement share options covering an aggregate of 58,000 of NewAmsterdam's ordinary shares to two non-executive new hires and a grant of inducement share options covering 170,800 of NewAmsterdam's ordinary shares to Maryellen McQuade, the Company's new Chief People Officer. The share options were granted as an inducement material to the employees' acceptance of employment with NewAmsterdam pursuant to the NewAmsterdam Pharma Company N.V. 2024 Inducement Plan (the "2024 Inducement Plan") and in accordance with Nasdaq Listing Rule 5635(c)(4).
The share options have an exercise price per share equal to $25.94 which represents the closing market price on the Nasdaq Stock Market of the Company's ordinary shares on January 3, 2025, the grant date. The shares subject to the options will vest over four years, with 25% of the shares vesting on the one-year anniversary of the applicable vesting commencement date and the balance of the shares vesting in a series of 36 equal monthly installments thereafter, subject to each employee's continued service with NewAmsterdam on such vesting dates. The options are subject to the terms and conditions of the 2024 Inducement Plan and the terms and conditions of an option award agreement covering the grant.
The Compensation Committee of NewAmsterdam's Board of Directors also approved the grant of restricted stock units covering 36,600 of NewAmsterdam's ordinary shares to Ms. McQuade. The restricted stock units were granted as an inducement material to Ms. McQuade's acceptance of employment with NewAmsterdam pursuant to the 2024 Inducement Plan and in accordance with Nasdaq Listing Rule 5635(c)(4).
The restricted stock units were granted on January 7, 2025. The restricted stock units will vest over three years, with one-third of the restricted stock units vesting on each of the one-year, two-year and three-year anniversaries of the applicable vesting commencement date, subject to each employee's continued service with NewAmsterdam on such vesting dates. The restricted stock units are subject to the terms and conditions of the 2024 Inducement Plan and the terms and conditions of a restricted stock unit award agreement covering the grant.
About NewAmsterdam
NewAmsterdam Pharma (Nasdaq: NAMS) is a late-stage biopharmaceutical company whose mission is to improve patient care in populations with metabolic diseases where currently approved therapies have not been adequate or well tolerated. We seek to fill a significant unmet need for a safe, well-tolerated and convenient LDL-lowering therapy. In multiple phase 3 studies, NewAmsterdam is investigating obicetrapib, an oral, low-dose and once-daily CETP inhibitor, alone or as a fixed-dose combination with ezetimibe, as LDL-C lowering therapies to be used as an adjunct to statin therapy for patients at risk of CVD with elevated LDL-C, for whom existing therapies are not sufficiently effective or well tolerated.
Company Contact
Matthew Philippe
P: 1-917-882-7512
matthew.philippe@newamsterdampharma.com
