Zogenix Reports Granting of Inducement Awards

EMERYVILLE, Calif., Dec. 16, 2021 (GLOBE NEWSWIRE) -- Zogenix (NASDAQ:ZGNX) today announced that the compensation committee of the company’s board of directors granted inducement awards to nine (9) new non-executive employees. The awards were made on December 15, 2021, under Zogenix’s 2021 Employment Inducement Equity Incentive Award Plan, which was approved by the company’s board of directors under Nasdaq Marketplace Rule 5635(c)(4), for granting equity awards to new employees of Zogenix as an inducement to join the company. The awards consist of options to purchase an aggregate of 84,400 shares of Zogenix common stock and 17,300 restricted stock units. The options have a ten year term and an exercise price equal to $13.32 the closing price per share of the common stock on the grant date, and vest over a four-year period, with 25% of the options vesting on the first anniversary of each employee’s respective start date and the remainder vesting in equal monthly installments over the three years thereafter. The restricted stock units vest over a four-year period in four equal annual installments beginning on the first anniversary of the vesting commencement date.