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Ariad Pharma names Schlesinger as a director

CAMBRIDGE, Mass. (AP) -- Ariad Pharmaceuticals Inc. on Wednesday said Sarah J. Schlesinger was named a member of its board.

The 52-year-old Schlesinger is a senior attending physician and associate professor of clinical investigation in the Laboratory of Cellular Physiology and Immunology at Rockefeller University.

Non-management directors of Ariad's board receive a one-time grant of 40,000 stock options, which vest over three years, when they are appointed or elected, according to a filing with the Securities and Exchange Commission. Directors receive annual cash payments of $50,000, and an annual equity grant of 14,000 restricted shares of common stock, the regulatory filing said.

Shares of Ariad, with headquarters in Cambridge, Mass., and Lausanne, Switzerland, gained 16 cents to $19.92 in morning trading on Wednesday.