CAMBRIDGE, Mass., Sept. 26, 2022 (GLOBE NEWSWIRE) — Agios Pharmaceuticals, Inc. AGIO, a leader in breakthrough cellular therapies for rare and genetically defined diseases, today announced the granting of stock awards outside of the company’s 2013 Stock Incentive Plan to its newly appointed Chief Financial Officer, Cecilia Jones. The grants were approved by the Board of Directors effective September 26, 2022 as a significant incentive for Ms. Jones to join the Company under Nasdaq Listing Rule 5635(c)(4).

The awards consisted of (i) a non-statutory option to purchase up to 118,390 common shares, (ii) restricted stock units for 22,417 common shares, and (iii) performance stock units for 10,760 common shares. The option has an exercise price of $27.88 per share, the closing price per share of the Company’s common stock as reported by Nasdaq on September 26, 2022. The option has a term of ten years and will vest over four years at 25% the original number of shares vesting on the first anniversary of Ms. Jones’ joining date and 2.0833% of the underlying shares vesting monthly thereafter vest, subject to their continued service to the Company up to the respective exercise dates. Each restricted stock unit entitles Ms. Jones to receive one common share of the Company for each restricted stock unit that vests. The restricted stock units vest in equal annual installments on each anniversary of Ms. Jones’ entry date through the third anniversary of that date, subject to her continued service with the Company through the applicable vesting dates. Each Performance Share Unit represents a conditional right to receive one share of the Company’s common stock upon the achievement of certain performance milestones.

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