CAMBRIDGE, Mass.--(BUSINESS WIRE)--Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY), the leading RNAi therapeutics company, today announced that it has granted stock options to Manmeet S. Soni, the Company's newly appointed Chief Financial Officer. The compensation committee of Alnylam's board of directors approved the grant, effective as of May 8, 2017, to Mr. Soni of non-qualified stock options to purchase an aggregate of 150,000 shares of Alnylam's common stock. These options were granted as an inducement material to Mr. Soni's entering into employment with the Company in accordance with NASDAQ Listing Rule 5635(c)(4).
The stock options have a ten-year term and an exercise price equal to $52.61, the per share closing price of Alnylam's common stock as reported by NASDAQ on the date of grant. Options to purchase 125,000 shares will vest over four years, with 25% vesting on the first anniversary of the grant date and the remainder vesting ratably at the end of each three-month period thereafter over the remaining three years, and options to purchase 25,000 shares will vest upon the later of the one year anniversary of the date of grant and the launch of Alnylam's first internally developed product, assuming in each case Mr. Soni remains continuously employed by Alnylam as of such date.
Alnylam is providing this stock option information in accordance with NASDAQ Listing Rule 5635(c)(4).
About Alnylam Pharmaceuticals
Alnylam (Nasdaq: ALNY) is leading the translation of RNA interference (RNAi) into a whole new class of innovative medicines with the potential to transform the lives of patients who have limited or inadequate treatment options. Based on Nobel Prize-winning science, RNAi therapeutics represent a powerful, clinically validated approach for the treatment of a wide range of debilitating diseases. Founded in 2002, Alnylam is delivering on a bold vision to turn scientific possibility into reality, with a robust discovery platform and deep pipeline of investigational medicines, including three product candidates that are in late-stage development or will be in 2017. Looking forward, Alnylam will continue to execute on its “Alnylam 2020” strategy of building a multi-product, commercial-stage biopharmaceutical company with a sustainable pipeline of RNAi-based medicines. For more information about our people, science and pipeline, please visit www.alnylam.com and engage with us on Twitter at @Alnylam.