PTC Therapeutics Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4)

PTC Therapeutics, Inc. (NASDAQ: PTCT) today announced that on August 6, 2018 it approved non-statutory stock options to purchase an aggregate of 170,200 shares of its common stock to 27 new employees.  The awards were made pursuant to the NASDAQ inducement grant exception as a component of the new hires’ employment compensation.

The inducement grants were approved by PTC’s Compensation Committee on August 6, 2018 and are being made as an inducement material to each employee’s acceptance of employment with the Company in accordance with NASDAQ Listing Rule 5635(c)(4).

Twenty-six of the stock option awards have an exercise price of USD 37.98 per share, the closing price of PTC’s common stock on August 6, 2018, the date of the grant. The one remaining stock option award will have an exercise price equal to the closing stock price of PTC’s common stock on the applicable employee’s new hire date, or the first trading day thereafter, which will be the date of grant.  The stock options each have a 10-year term and vest over four years, with 25 percent of the original number of shares vesting on the first anniversary of the applicable employee’s new hire date and 6.25 percent of the original number of shares vesting at the end of each subsequent three-month period thereafter until fully vested, subject to the employee’s continued service with the company through the applicable vesting dates.- Medical Buyer Bureau