IRVINE, Calif., April 21, 2025 (GLOBE NEWSWIRE) -- AEON Biopharma, Inc. ("AEON" or the "Company") (NYSE: AEON), a clinical-stage biopharmaceutical company focused on developing a botulinum toxin complex for the treatment of multiple therapeutic indications, today announced that, in connection with the appointment of Rob Bancroft as President and Chief Executive Officer, the Company's Compensation Committee of the Board of Directors has approved the grant of inducement awards.
The Compensation Committee approved the grant to Mr. Bancroft of a non-qualified stock option to purchase 59,034 shares of AEON Class A common stock under AEON's 2025 Employment Inducement Incentive Award Plan (the "Inducement Plan"), which provides for the granting of equity awards to new employees of the Company. The stock option will be granted on Mr. Bancroft's employment start date and will have an exercise price equal to the closing price of AEON's Class A common stock on the NYSE American on the grant date. In addition, the Compensation Committee approved the grant to Mr. Bancroft of 177,103 restricted stock units ("RSUs") under the Inducement Plan. The RSUs will be granted on the later of (i) the date on which the Company files a Form S-8 registration statement with respect to the Inducement Plan and (ii) Mr. Bancroft's employment start date.
The stock option and RSUs vest over four years, 25% on each annual anniversary of the vesting commencement date, which will be Mr. Bancroft's employment start date. The awards are subject to the terms and conditions of the Inducement Plan and the terms and conditions of the stock option agreement or RSU agreement, as applicable, covering the grant. The awards are being granted as an inducement material to Mr. Bancroft entering into employment with the Company in accordance with Section 711 of NYSE American LLC Company Guide.
About AEON Biopharma
AEON is a clinical stage biopharmaceutical company focused on developing its proprietary botulinum toxin complex, ABP-450 (prabotulinumtoxinA) injection, or ABP-450, for debilitating medical conditions, with an initial focus on the neurosciences market. ABP-450 is the same botulinum toxin complex that is currently approved and marketed for cosmetic indications by Evolus under the name Jeuveau. ABP-450 is manufactured by Daewoong in compliance with current Good Manufacturing Practice, or cGMP, in a facility that has been approved by the U.S. Food and Drug Administration, Health Canada and European Medicines Agency. The product is approved as a biosimilar in Mexico and India. AEON has exclusive development and distribution rights for therapeutic indications of ABP-450 in the United States, Canada, the European Union, the United Kingdom, and certain other international territories. The Company has built a highly experienced management team with specific experience in biopharmaceutical and botulinum toxin development and commercialization. To learn more about AEON, visit www.aeonbiopharma.com.
Contacts
Investor Contact:
Corey Davis, Ph.D.
LifeSci Advisors
+1 212 915 2577
cdavis@lifesciadvisors.com
Source: AEON Biopharma
