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Constitution of the Board of Directors in Genmab A/S and Grant of Restricted Stock Units and Warrants to Employees and a New Member of Management in Genmab

Nachrichtenquelle: globenewswire
13.04.2021, 22:39  |  114   |   |   

Company Announcement

COPENHAGEN, Denmark; April 13, 2021 – Genmab A/S (Nasdaq: GMAB) Following Genmab A/S’ Annual General Meeting held on April 13, 2021, the Company’s Board of Directors met to constitute itself. Ms. Deirdre P. Connelly was appointed Chair and Ms. Pernille Erenbjerg was appointed Deputy Chair. It was decided to grant 15,920 restricted stock units to the new member of Management and employees of the Company and the Company’s subsidiaries and 17,075 warrants to the new member of Management and employees of the Company and the Company’s subsidiaries.

Each restricted stock unit is awarded cost-free and provides the owner with a right and obligation to receive one share in Genmab A/S of nominally DKK 1. The vesting of the restricted stock units granted to the members of executive management will be subject to forward looking performance criteria. The fair value of each restricted stock unit is equal to the closing market price on the date of grant of one Genmab A/S share, DKK 2,148.

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The restricted stock units will vest on the first banking day of the month following a period of three years from the date of grant. Furthermore, the restricted stock units are subject to vesting conditions set out in the restricted stock unit program adopted by the board of directors in accordance with the Remuneration Policy adopted by the shareholders at the annual general meeting. Information concerning Genmab’s restricted stock unit program can be found on www.genmab.com under Investors > Compensation > Equity Programs > Restricted stock units.

The exercise price for each warrant is DKK 2,148. Each warrant is awarded cost-free and entitles the owner to subscribe one share of nominally DKK 1 subject to payment of the exercise price. By application of the Black-Scholes formula, the fair value of each warrant can be calculated as DKK 667.76.

The warrants vest three years after the grant date, and all warrants expire at the seventh anniversary of the grant date. The new warrants have been granted on the terms and conditions set out in the warrant program adopted by the board of directors on February 23, 2021. Information concerning Genmab’s warrant schemes can be found on www.genmab.com under Investors > Compensation > Equity Programs > Warrants.

About Genmab
Genmab is an international biotechnology company with a core purpose to improve the lives of patients with cancer. Founded in 1999, Genmab is the creator of multiple approved antibody therapeutics that are marketed by its partners. The company aims to create, develop and commercialize differentiated therapies by leveraging next-generation antibody technologies, expertise in antibody biology, translational research and data sciences and strategic partnerships. To create novel therapies, Genmab utilizes its next-generation antibody technologies, which are the result of its collaborative company culture and a deep passion for innovation. Genmab’s proprietary pipeline consists of modified antibody candidates, including bispecific T-cell engagers and next-generation immune checkpoint modulators, effector function enhanced antibodies and antibody-drug conjugates. The company is headquartered in Copenhagen, Denmark with locations in Utrecht, the Netherlands, Princeton, New Jersey, U.S. and Tokyo, Japan. For more information, please visit Genmab.com.

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Constitution of the Board of Directors in Genmab A/S and Grant of Restricted Stock Units and Warrants to Employees and a New Member of Management in Genmab Company Announcement COPENHAGEN, Denmark; April 13, 2021 – Genmab A/S (Nasdaq: GMAB) Following Genmab A/S’ Annual General Meeting held on April 13, 2021, the Company’s Board of Directors met to constitute itself. Ms. Deirdre P. Connelly was …

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