Courtesy of Benzinga.
Auxilium Pharmaceuticals, Inc. (NASDAQ: AUXL) today reported a clarification regarding the classification under the NASDAQ Listing Rules of an option to purchase shares of Auxilium common stock previously granted to Auxilium’s Chief Executive Officer and President, Adrian Adams.
On December 8, 2011, Auxilium announced the hiring of Mr. Adams and the award to Mr. Adams of an option to purchase 550,000 shares of Auxilium’s common stock (the “Adams Grant”). Today, the Company clarified the classification of the Adams Grant under the NASDAQ Listing Rules. 500,000 shares underlying the Adams Grant were granted under Auxilium’s 2004 Equity Compensation Plan, as amended and restated and 50,000 shares underlying the Adams Grant were granted outside of the Plan. Auxilium granted the Inducement Shares as an inducement material to Mr. Adams’ entering into employment with Auxilium, pursuant to NASDAQ Listing Rule 5635(c)(4).
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