Theravance Announces New Employment Inducement Awards
Must be someone with special skills, eh?
SOUTH SAN FRANCISCO, CA--(Marketwire - 08/03/09) - Theravance, Inc. (NASDAQ:THRX - News) today reported that equity awards were made to one new employee. Pursuant to Nasdaq Marketplace Rule 5635(c)(4), the equity awards were granted under the Theravance, Inc. 2008 New Employee Equity Incentive Plan, which the Board of Directors of Theravance adopted to facilitate the granting of equity awards to new employees. In accordance with Nasdaq rules, these grants were made under an equity incentive plan without stockholder approval. Nasdaq rules require a public announcement of equity awards to be made under this type of plan. One employee was granted an option to purchase 75,000 shares of the Company's common stock and 8,000 restricted stock units. These equity awards vest over approximately four years, and the option expires in 10 years, in each case assuming continued employment. No executive officers received any award under this plan. The exercise price for the option shares granted is $14.73, which was the closing price of Theravance common stock on the Nasdaq Global Market as such price was reported by NASDAQ on the date of grant. |
