On March 6, 2023 Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH) (Aurinia or the Company), a biopharmaceutical company committed to delivering therapeutics that change the course of autoimmune, kidney and rare diseases, reported that the Company’s Compensation Committee granted 3 new employees inducement stock options to purchase an aggregate of 89,830 common shares, at a per share exercise price of $8.99, the closing price of Aurinia’s common stock on March 3, 2023, and an aggregate of 54,850 inducement restricted stock units (RSUs) (Press release, Aurinia Pharmaceuticals, MAR 6, 2023, View Source [SID1234628178]). The inducement stock options and RSUs have a grant date of March 6, 2023. The stock options and RSUs were granted as inducements material to the new employees entering employment with Aurinia in accordance with Nasdaq Listing Rule 5635(c)(4).

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The inducement stock options have a ten-year term and vest over three years with one-third of the shares vesting on the twelve month anniversary from the grant date, and the remaining options vesting in twenty-four equal monthly installments thereafter.

The inducement RSUs shall vest in three equal annual installments on the first, second and third anniversary of the grant date.