Achieve Life Sciences announces grant of new hire inducement award

Achieve Life Sciences announced that the Company has issued an inducement grant of stock options to a new employee. Achieve’s Board of Directors approved the new employment inducement grant to purchase 25,000 shares of Achieve’s common stock with the grant awarded on March 14, 2023. Achieve granted the stock options as a material inducement to the new employee for entering into an employment agreement with Achieve in accordance with Nasdaq Listing Rule 5635(c)(4). The stock options approved under the inducement grant were issued pursuant to a stock option agreement on terms substantially similar to Achieve’s 2018 Equity Incentive Plan and have a per share exercise equal to the closing price of Achieve’s common stock on March 14, 2023. The stock options vest over four years, with 25% vesting on the first anniversary of the employee’s start date and 1/36TH of the remaining shares vesting monthly thereafter, subject to the employee’s continued employment on each such date. The stock options have a 10-year term and are subject to the terms and conditions of the stock option agreements.