CAMBRIDGE, Mass., Sept. 26, 2022 (GLOBE NEWSWIRE) — Agios Pharmaceuticals, Inc. (Nasdaq: AGIO), a leader in breakthrough therapies for cellular metabolism in rare and genetically defined diseases, today announced the grant announced an incentive stock award outside of the Company’s 2013 Stock Incentive Plan to its newly appointed Chief Financial Officer, Cecilia Jones. The grants were approved by the Board of Directors effective September 26, 2022 as a significant incentive for Ms. Jones to join the Company under Nasdaq Listing Rule 5635(c)(4).
The awards consisted of (i) a non-statutory option to purchase up to 118,390 common shares, (ii) restricted stock units for 22,417 common shares, and (iii) performance stock units for 10,760 common shares. The option has an exercise price of $27.88 per share, the closing price per share of the Company’s common stock as reported by Nasdaq on September 26, 2022. The option has a term of ten years and will vest over four years at 25% the original number of shares vesting on the first anniversary of Ms. Jones’ joining date and 2.0833% of the underlying shares vesting monthly thereafter vest, subject to their continued service to the Company up to the respective exercise dates. Each restricted stock unit entitles Ms. Jones to receive one common share of the Company for each restricted stock unit that vests. The restricted stock units vest in equal annual installments on each anniversary of Ms. Jones’ entry date through the third anniversary of that date, subject to her continued service with the Company through the applicable vesting dates. Each Performance Share Unit represents a conditional right to receive one share of the Company’s common stock upon the achievement of certain performance milestones.
Agios is a biopharmaceutical company powered by connections. The Agios team maintains strong relationships with patient communities, healthcare professionals, partners and colleagues to discover, develop and deliver therapies for rare and genetically defined diseases. In the US, Agios is commercializing a premium pyruvate kinase (PK) activator for adults with PK deficiency, the first disease-modifying therapy for this rare, lifelong, debilitating hemolytic anemia. Building on the Company’s leadership in cellular metabolism, Agios is advancing a robust investigational clinical pipeline with active and planned programs in the areas of alpha and beta thalassemia, sickle cell disease, pediatric PK deficiency and MDS-related anemia. In addition to its clinical pipeline, Agios has multiple investigational therapies in pre-clinical development and an industry-leading research team with unmatched expertise in cellular metabolism and genetics. For more information, visit the company’s website at www.agios.com.
Holly Manning, 617-844-6630
Senior Director, Investor Relations
Jessica Rennekamp, 857-209-3286
Senior Director, Corporate Communications