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TURKU, FINLAND - Faron Pharmaceuticals Ltd (AIM:FARN, First North: FARON), a biopharmaceutical firm engaged in developing immunotherapies for cancer, has granted 876,000 options to employees under its Share Option Plan 2019. The options, if exercised, will allow employees to subscribe for an equivalent number of new ordinary shares, representing 0.78% of the company’s fully diluted share capital.
The options are set to be exercisable from April 4, 2026, to April 4, 2031, with a vesting schedule of 25% per year over four years. The exercise price for the options has been set at €2.20 per share for the main plan, based on the 90-day average trading price on the AIM leading up to April 4, 2025. Options under the US sub-plan have a set exercise price of €2.31 per share, determined by the 30-day average trading price on the AIM before the same date.
Among the recipients of the options are several directors and persons with managerial responsibilities, with a total of 450,000 options granted to directors and 137,000 to other managerial staff. The remaining options are allocated to company personnel.
This move by Faron Pharmaceuticals is part of its strategy to incentivize and retain key employees as it continues to progress in its clinical trials and development of new cancer treatments. The terms of the Share Option Plan 2019 can be found on the company’s website.
The information is based on a press release statement from Faron Pharmaceuticals Ltd.
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