Verve Therapeutics Announces Inducement Grants under Nasdaq Listing Rule 5635(c)(4)
May 03 2024 - 4:01PM
Verve Therapeutics, a clinical-stage biotechnology company
pioneering a new approach to the care of cardiovascular disease
with single-course gene editing medicines, today announced that on
April 30, 2024, the company granted equity awards to ten new
employees, pursuant to the company’s 2024 Inducement Stock
Incentive Plan, as an inducement material to each new employee
entering into employment with the company in accordance with Nasdaq
Listing Rule 5635(c)(4).
The employees received stock options to purchase an aggregate of
64,200 shares of the company’s common stock and an aggregate of
56,100 restricted stock units (RSUs). The options have an exercise
price of $6.01 per share, which is equal to the closing price of
the company’s common stock on the date of grant. Each option has a
10-year term and will vest over a period of four years, with 25% of
the shares vesting on the one-year anniversary of the grant date
and the remainder vesting in equal monthly installments over the
following three years, subject to each such employee’s continued
service with the company on each such vesting date. The RSUs will
vest in equal annual installments on the first four anniversaries
of July 1, 2024, subject to each such employee’s continued service
with the company on each such vesting date.
About Verve Therapeutics Verve
Therapeutics, Inc. (Nasdaq: VERV) is a clinical-stage genetic
medicines company pioneering a new approach to the care of
cardiovascular disease, potentially transforming treatment from
chronic management to single-course gene editing medicines. The
company’s lead programs – VERVE-101, VERVE-102, and VERVE-201 –
target genes that have been extensively validated as targets for
lowering low-density lipoprotein cholesterol (LDL-C), a root cause
of atherosclerotic cardiovascular disease (ASCVD). VERVE-101 and
VERVE-102 are designed to permanently turn off
the PCSK9 gene in the liver and are being developed
initially for heterozygous familial hypercholesterolemia (HeFH) and
ultimately to treat patients with established ASCVD who continue to
be impacted by high LDL-C levels. VERVE-201 is designed to
permanently turn off the ANGPTL3 gene in the liver and is
initially being developed for homozygous familial
hypercholesterolemia (HoFH) and for refractory hypercholesterolemia
where patients still have high LDL-C despite treatment with
maximally-tolerated standard of care therapies. For more
information, please visit www.VerveTx.com.
Investor ContactJen RobinsonVerve Therapeutics,
Inc.jrobinson@vervetx.com
Media ContactAshlea
Kosikowski1ABashlea@1abmedia.com
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