Mr. Zavodnick holds a Master of Business Administration from The University of Texas at Dallas and a Bachelor of Science in Pharmacy from Rutgers University. He currently serves on the Board of Directors for NovaBay Pharmaceuticals (NYSE: NBY), Inc. and the Children's Skin Disease Foundation."Revance has worked diligently to assemble a robust and expanding set of clinical data to support the differentiation of RT002 injectable, most importantly high response rates, long duration of effect, and a better patient experience than current commercially available products," said Mr. Zavodnick. "Based on my global experience, and speaking with many physicians skilled in the use of today's short-acting neurotoxins, I truly believe RT002 has the potential to disrupt the neuromodulator market. This requires a new approach and new thinking on commercialization, and I am very excited to work with an innovative team laser-focused on physician perspectives and improving patient satisfaction. I am looking forward to the opportunity to build a powerful new global neuromodulator brand for Revance." In connection with Mr. Zavodnick's employment agreement as Chief Commercial Officer of Revance, the Compensation Committee of Revance's Board of Directors has approved the grant of inducement awards pursuant to Rule 5635(c)(4) of the NASDAQ Listing Rules. Mr. Zavodnick's inducement awards consist of a stock option to purchase 35,000 shares of Revance common stock and 95,000 shares of restricted Revance common stock. Mr. Zavodnick's options will vest over a period of four years, with 25% vesting beginning on his first day of employment with Revance, anticipated to be September 18, 2018, and the balance vesting each month over the remaining three years. Mr. Zavodnick's restricted stock will vest over a period of four years starting October 15, 2018, with 25% vesting annually. These awards are subject to the terms and conditions of Revance's Amended and Restated 2014 Inducement Plan, as adopted by the Revance Board of Directors on December 11, 2015. These awards are effective on Mr. Zavodnick's first day of employment with Revance, and the exercise price of the options will be closing price of Revance common stock on the NASDAQ Global Market on that date.
About Revance Therapeutics, Inc.Revance, a Silicon Valley-based biotechnology company, is committed to the advancement of remarkable science. The company is developing a portfolio of products for aesthetic medicine and underserved therapeutic specialties, including dermatology, orthopedics and neurology. Revance's science is based upon a proprietary peptide technology, which when combined with active drug molecules, may help address current unmet needs. Revance's initial focus is on developing daxibotulinumtoxinA, the company's highly purified botulinum toxin, for a broad spectrum of aesthetic and therapeutic indications, including facial wrinkles and muscle movement disorders. The company's lead drug candidate, DaxibotulinumtoxinA for Injection (RT002), is currently in development for the treatment of glabellar lines, cervical dystonia and plantar fasciitis with the potential to be the first long-acting neuromodulator. The company holds worldwide rights for all indications of RT002 injectable and RT001 topical and the pharmaceutical uses of its proprietary peptide technology platform. More information on Revance may be found at www.revance.com. "Revance Therapeutics" and the Revance logo are registered trademarks of Revance Therapeutics, Inc. *ZELTIQ and CoolSculpting are registered trademarks of ZELTIQ Aesthetics, Inc.