Annexon reports inducement grants under Nasdaq listing rule

Annexon has granted inducement to six new non-executive employees under the terms of the 2022 Employment Inducement Award Plan. The equity awards were approved on September 13, 2024, in accordance with Nasdaq Listing Rule 5635(c)(4). In the aggregate, the new non-executive employees received options to purchase 1,015,000 shares of Annexon common stock. The options carry a ten-year term and an exercise price per share equal to $7.20, which was the closing price of Annexon’s common stock on September 13, 2024, the date of grant, and vest over 4 years, with 25% of the shares underlying the options vesting on the first anniversary of the grant date and an additional 1/48th of the shares vesting monthly thereafter, subject to continued service through the applicable vesting dates.