Dallas, Texas 05/28/2014 (FINANCIALSTRENDS) – Horizon Pharma Inc (NASDAQ:HZNP) announced that on 23 May 2014, the company’s BOD’s Compensation Committee approved a grant of inducement stock-options to buy an aggregate of 21,000 shares of the common stock to 6 new employees. Each of these stock options has the exercise price/ share that is equal to $13.46, the fair market-value on this grant date, & it vests over 4 years.
And 25 percent of the shares that are vesting on the 1-year anniversary of its applicable vesting commencement date & 1/48 of shares vesting on a monthly basis thereafter. These are subject to that new employee’s continued-service relationship with Horizon Pharma Inc (NASDAQ:HZNP). Every stock option also has a 10 year term & is subject to terms & conditions of its 2011 Equity Incentive Plan & a stock option agreement that is pursuant to which that option was granted.
In separate news, HZNP Chief Finance Officer, Robert De offloaded 12,939 shares of company stock in the open market in the transaction that was dated May 19th. These shares were sold-off at the average price of $12.94, and the total value of the transaction was $167,430.66. Post completion of this sale, the CFO now directly-owns 88,555 shares in Horizon Pharma Inc (NASDAQ:HZNP), valued at around $1,145,902. This transaction had been disclosed in the SEC filing.
Horizon Pharma last posted the company’s quarterly earnings-results on May 9th. It reported earnings per share of $0.16 for the quarter, which topped the average analysts projection of $0.01 by $0.15. HZNP reported revenue of $51.90M for the quarter, against the average projection of $42.69 million. In that same quarter of the earlier year, It posted earnings per share of $0.36. Its revenue for the quarter increased 496.6% on a YOY basis. Analysts now expect the company to will post EPS of $-1.78 for the current financial year.