Mr. Madison commented, “I am pleased to join AMAG during this very important time in the company's development. There are a multitude of patients who suffer from the devastating effects of iron deficiency anemia and are in need of effective new treatment options. Over the next 12 months, we will look to significantly increase Feraheme adoption in the CKD market, while we plan and prepare for the potential launch for the broader IDA population, pending regulatory approval. I look forward to working with our team to bring forward innovative solutions for patients and caregivers alike."
Mr. Madison is an active Board member of, and a member of the Operations Committee with, Kidney Care Partners, a Washington DC based organization that is focused on legislative, regulatory and public policy issues related to patients with CKD. He holds a Bachelor of Business Administration in Finance from the University of Massachusetts, Amherst.
Inducement Equity Awards
In connection with Mr. Madison’s entry into his employment agreement, effective on the first day of Mr. Madison’s employment, Mr. Madison will be granted (i) an option to purchase 75,000 shares of common stock and (ii) 35,000 restricted stock units. The option will have an exercise price equal to the closing price of AMAG’s common stock on the grant date and will be exercisable in four equal annual installments beginning on the first anniversary of the grant date. The option will have a ten-year term and be subject to the terms and conditions of the stock option agreement pursuant to which the option will be granted. The restricted stock units will vest in four equal annual installments beginning on the first anniversary of the grant date and will be subject to the restricted stock unit agreement pursuant to which the restricted stock units will be granted.These equity awards will be granted without stockholder approval as inducements material to Mr. Madison’s entering into employment with AMAG in accordance with NASDAQ Listing Rule 5635(c)(4).