The company authorized the issuance of 51,270 stock options and 37,995 restricted stock units on September 22. The options carry an exercise price of $65.96 per share, matching the closing market price on the date of the grant. These instruments serve as material inducements for the incoming staff to join the organization.
In section Releases
PTC Therapeutics Issues Equity Grants to 37 New Hires
Thirty-seven new employees at PTC Therapeutics have received equity awards as part of their compensation packages, according to a disclosure from the Warren-based biopharmaceutical firm. The grants, approved by the company’s Compensation Committee, include both stock options and restricted stock units issued under Nasdaq listing rules.
Both the stock options and the restricted stock units follow a four-year vesting schedule. The options are set for a 10-year term, with an initial 25% stake vesting after the first year and subsequent portions releasing every three months. The restricted stock units vest at a rate of 25% annually. Continued employment remains a requirement for all vesting milestones.
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