PALO ALTO, Calif., May 3, 2023 /PRNewswire/ -- Eiger BioPharmaceuticals, Inc. (Nasdaq: EIGR), a commercial-stage biopharmaceutical company focused on the development of innovative therapies for hepatitis delta virus (HDV) and other serious diseases, today reported that, in connection with the appointment of James A. Vollins as General Counsel, Chief Compliance Officer and Corporate Secretary, Eiger granted him a stock option to purchase 120,000 shares of Eiger's common stock. The stock option was approved by the Compensation Committee of Eiger's Board of Directors and granted under the Eiger BioPharmaceuticals, Inc. 2021 Inducement Plan, as amended, with a grant date of April 30, 2023, as an inducement material to Mr. Vollins entering into employment with Eiger, in accordance with Nasdaq Listing Rule 5635(c)(4).
The stock option vests over four years, with 25 percent vesting on the first anniversary of the vesting commencement date for Mr. Vollins and the remainder vesting in 36 equal installments over the following three years, subject to Mr. Vollins being continuously employed by Eiger as of such vesting dates. The stock option has a ten-year term and an exercise price of $1.03, the closing sales price of Eiger's common stock as reported by Nasdaq on April 28, 2023, which is the trading day preceding the grant date.
Eiger is providing this information in accordance with Nasdaq Listing Rule 5635(c)(4).
Eiger is a commercial-stage biopharmaceutical company focused on the development of innovative therapies for hepatitis delta virus (HDV) and other serious rare diseases. The Eiger HDV platform includes two first-in- class therapies in Phase 3 that target critical host processes involved in viral replication. All five Eiger rare disease programs have been granted FDA breakthrough therapy designation.
For additional information about Eiger and its clinical programs, please visit www.eigerbio.com.
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SOURCE Eiger BioPharmaceuticals, Inc.