Ultragenyx Pharma Grants Chief Financial Officer: New Inducement Plan Awards Drive Growth
Ultragenyx Pharmaceutical Inc., a biopharmaceutical company specializing in therapies for rare and ultrarare diseases, has announced the grant of restricted stock units and non-qualified stock options to its newly appointed Chief Financial Officer and Executive Vice President, Howard Horn. This move is part of the company’s efforts to drive growth and incentivize new employees.
The compensation committee of Ultragenyx’s board of directors approved the grant, which includes 80,366 restricted stock units and the option to purchase 140,469 shares of the company’s common stock. These incentives were granted under the Ultragenyx Employment Inducement Plan and are in accordance with Nasdaq Listing Rule 5635(c)(4).
The restricted stock units will vest over a period of four years, with 25% of the shares becoming available on each anniversary of the grant date, contingent on Mr. Horn’s continued employment with the company. Similarly, the stock options will vest over four years, with 25% of the underlying shares vesting on the first anniversary of the grant date and the remaining shares vesting monthly thereafter. Mr. Horn’s employment with Ultragenyx is a prerequisite for these options to become fully exercisable. The options have a ten-year term and an exercise price based on the closing price of Ultragenyx’s common stock on the grant date.
Ultragenyx Pharmaceutical Inc. is committed to developing and commercializing therapies for rare and ultrarare genetic diseases. The company’s portfolio includes approved therapies and product candidates that aim to address diseases with significant unmet medical needs. With a focus on efficient drug development, Ultragenyx aims to deliver effective treatments to patients as quickly as possible.
The appointment of Howard Horn as Chief Financial Officer and Executive Vice President reflects Ultragenyx’s long-term strategic goals. Horn’s expertise in financial management and corporate strategy will be instrumental in driving the company’s growth and advancing its mission of providing innovative treatments for rare diseases.
For more information about Ultragenyx Pharmaceutical Inc. and its commitment to rare disease therapeutics, please visit their website at www.ultragenyx.com.
