Sage Therapeutics (Sage) (Nasdaq:SAGE), a clinical-stage biopharmaceutical company developing novel medicines to treat life-altering central nervous system (CNS) disorders, announced on Friday that on 2 January 2019, the company's compensation committee of its board of directors granted non-qualified stock options to purchase an aggregate of 15,000 shares of its common stock to five new employees under Sage's 2016 Inducement Equity Plan.

Reportedly, this 2016 Inducement Equity Plan is used exclusively for the grant of equity awards to individuals who were not previously an employee or non-employee director of Sage (or following a bona fide period of non-employment), as an inducement material to such individual's entering into employment with Sage, pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules.

These options have an exercise price of USD89.45 per share, which is equal to the closing price of Sage's common stock on 2 January 2019. Each option will vest and become exercisable as to 25% of the shares on the first anniversary of the recipient's start date and will vest and become exercisable as to the remaining 75% of the shares in 36 equal monthly instalments following the first anniversary, in each case, subject to each such employee's continued employment with Sage on such vesting dates.

Also, these options are subject to the terms and conditions of Sage's 2016 Inducement Equity Plan and the terms and conditions of a stock option agreement covering the grant.