Assertio granted CEO Mary Pietryga 62,500 RSUs and 275,000 stock options as part of her employment agreement.
Quiver AI Summary
Assertio Holdings, Inc. announced the grant of stock options and restricted stock units (RSUs) to Mary Pietryga, its newly appointed Senior Vice President and Chief Commercial Officer, as part of her inducement to join the company. Effective December 23, 2024, Pietryga received 62,500 RSUs and 275,000 stock options with an exercise price of $0.846 per share, which aligns with Assertio's common stock closing price on the grant date. The vesting of these grants will occur equally over three years, beginning after the first anniversary of the grant. Assertio is a commercial pharmaceutical company focused on providing differentiated products through acquisitions and licensing, and it emphasizes its marketing and distribution capabilities. The press release also includes a cautionary note regarding forward-looking statements related to the company's future performance and strategies.
Potential Positives
- Assertio has successfully attracted a senior executive, Mary Pietryga, to enhance its commercial capabilities, suggesting a strategic move to strengthen leadership and drive future growth.
- The granting of 62,500 RSUs and 275,000 stock options as an inducement demonstrates Assertio's commitment to incentivizing key talent, potentially leading to improved company performance.
- The exercise price of the options being equal to the closing price of the stock on the grant date reflects a fair and transparent approach to executive compensation.
Potential Negatives
- Granting a substantial number of RSUs and stock options to a newly hired executive may raise concerns about executive compensation and its alignment with shareholder interests.
- The use of forward-looking statements with significant reliance on assumptions may indicate uncertainty regarding the company's future performance, which could impact investor confidence.
- The company's need to attract talent through large equity grants might suggest difficulties in hiring or retaining capable leadership, potentially reflecting internal challenges.
FAQ
What stock options were granted to Mary Pietryga?
Mary Pietryga received 275,000 stock options and 62,500 restricted stock units as part of her employment package.
When did Assertio grant the stock options?
The stock options and RSUs were granted on December 23, 2024.
What is the exercise price of the stock options?
The exercise price of the stock options is $0.846 per share, equal to the stock's closing price on the grant date.
How are the RSUs and stock options set to vest?
The RSUs and stock options vest equally annually over three years, starting on the first anniversary of the grant date.
Where can I find more information about Assertio?
For more information about Assertio, visit their official website at .
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$ASRT Insider Trading Activity
$ASRT insiders have traded $ASRT stock on the open market 2 times in the past 6 months. Of those trades, 2 have been purchases and 0 have been sales.
Here's a breakdown of recent trading of $ASRT stock by insiders over the last 6 months:
- HEATHER L MASON purchased 75,000 shares.
- BRENDAN P. O'GRADY (CEO) purchased 11,706 shares.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$ASRT Hedge Fund Activity
We have seen 25 institutional investors add shares of $ASRT stock to their portfolio, and 62 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- RUSSELL INVESTMENTS GROUP, LTD. removed 1,534,480 shares (-69.9%) from their portfolio in Q3 2024
- GOLDMAN SACHS GROUP INC removed 1,098,828 shares (-98.1%) from their portfolio in Q3 2024
- AQR CAPITAL MANAGEMENT LLC removed 1,047,619 shares (-45.4%) from their portfolio in Q3 2024
- RENAISSANCE TECHNOLOGIES LLC added 856,309 shares (+36.0%) to their portfolio in Q3 2024
- MILLENNIUM MANAGEMENT LLC removed 574,021 shares (-32.6%) from their portfolio in Q3 2024
- NORTHERN TRUST CORP removed 511,632 shares (-73.2%) from their portfolio in Q3 2024
- NANTAHALA CAPITAL MANAGEMENT, LLC removed 322,500 shares (-3.5%) from their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
LAKE FOREST, Ill., Jan. 03, 2025 (GLOBE NEWSWIRE) -- Assertio Holdings, Inc. ("Assertio" or the "Company") (NASDAQ: ASRT), a pharmaceutical company with comprehensive commercial capabilities offering differentiated products to patients, announced that effective December 23, 2024, the Compensation Committee of the Company's Board of Directors granted Mary Pietryga, the Company's newly-hired Senior Vice President, Chief Commercial Officer, 62,500 restricted stock units ("RSUs") and 275,000 stock options ("options").
The RSUs and options were granted as inducements material to Ms. Pietryga's entry into employment with Assertio in accordance with NASDAQ Listing Rule 5635(c)(4). The RSUs and options are subject to Ms. Pietryga's continued service relationship with the Company, terms and conditions substantially identical to those set forth in the Company's 2014 Omnibus Incentive Plan and the award agreements pursuant to which they were granted. The options have an exercise price of $0.846 per share, which is equal to the closing price of Assertio's common stock on the grant date. The RSUs and options vest equally annually over three years beginning on the first anniversary of the grant date.
About Assertio
Assertio is a commercial pharmaceutical company with comprehensive commercial capabilities offering differentiated products to patients. We have built our commercial portfolio through acquisition or licensing of approved products. Our commercial capabilities include marketing through both a sales force and a non-personal promotion model, market access through payor contracting, and trade and distribution. To learn more about Assertio visit
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Forward-Looking Statements
Statements in this communication that are not historical facts are forward-looking statements that reflect Assertio's current expectations, assumptions and estimates of future performance and economic conditions. These forward-looking statements are made in reliance on the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements relate to, among other things, future events or the future performance or operations of Assertio, including risks related to our ability to realize the benefits from our operating model, deliver or execute on our business strategy, including to expand or diversify our asset base and market reach and drive cash flows and growth, successfully integrate new assets, and explore new business development initiatives. All statements other than historical facts may be forward-looking statements and can be identified by words such as "anticipate," "believe," "could," "design," "estimate," "expect," "forecast," "goal," "guidance," "imply," "intend," "may," "objective," "opportunity," "outlook," "plan," "position," "potential," "predict," "project," "prospective," "pursue," "seek," "should," "strategy," "target," "would," "will," "aim" or other similar expressions that convey the uncertainty of future events or outcomes and are used to identify forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond the control of Assertio, including the risks described in Assertio's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the U.S. Securities and Exchange Commission ("SEC") and in other filings Assertio makes with the SEC from time to time.
Investors and potential investors are urged not to place undue reliance on forward-looking statements in this communication, which speak only as of this date. While Assertio may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to update or revise any forward-looking-statements contained in this press release whether as a result of new information or future events, except as may be required by applicable law.
Investor Contact:
Matt Kreps, Managing Director
Darrow Associates
M: 214-597-8200
mkreps@darrowir.com
