Translate Bio Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4)
May 05 2021 - 4:30PM
Translate Bio (Nasdaq: TBIO), a clinical-stage messenger RNA (mRNA)
therapeutics company developing a new class of potentially
transformative medicines to treat or prevent debilitating or
life-threatening diseases, today reported that on May 3, 2021, the
Company granted non-qualified stock options to purchase an
aggregate of 51,200 shares of the Company’s common stock to six new
employees. These grants were made pursuant to the Company’s 2021
Inducement Stock Incentive Plan, were approved by the Company’s
Inducement Grant Subcommittee of the board of directors, and were
made as a material inducement to each employee’s acceptance of
employment with the Company in accordance with Nasdaq Listing Rule
5635(c)(4) as a component of his or her employment compensation.
The stock options have an exercise price of
$23.03 per share, equal to the closing price of Translate Bio’s
common stock on May 3, 2021. Each stock option has a ten year term
and vests over four years, with 25% of the shares underlying the
option vesting on May 3, 2022 and in thirty-six equal monthly
installments thereafter as to the remaining shares. The vesting of
each grant is subject to the employee’s continued service with the
Company through the applicable vesting date. The inducement grants
are subject to the terms and conditions of award agreements
covering the grants and the Company’s 2021 Inducement Stock
Incentive Plan.
About Translate BioTranslate
Bio is a clinical-stage mRNA therapeutics company developing a
new class of potentially transformative medicines to treat diseases
caused by protein or gene dysfunction, or to prevent infectious
diseases by generating protective immunity. Translate
Bio is primarily focused on applying its technology to treat
pulmonary diseases with a lead pulmonary candidate being evaluated
as an inhaled treatment for cystic fibrosis (CF) in a Phase 1/2
clinical trial. Additional pulmonary diseases are being evaluated
in discovery-stage research programs that utilize a proprietary
lung delivery platform. Translate Bio also believes its
technology may apply broadly to a wide range of diseases, including
diseases that affect the liver. Additionally, the platform may be
applied to various classes of treatments, such as therapeutic
antibodies or protein degradation. Translate Bio is also
pursuing the development of mRNA vaccines for infectious diseases
under a collaboration with Sanofi Pasteur. For more
information about the Company, please
visit www.translate.bio or on Twitter at
@TranslateBio.
Investor Relations |
Media
Relations |
Teri Dahlman |
Maura Gavaghan |
Tel.: +1 (617) 817-8655 |
Tel: +1 (617) 233-1154 |
tdahlman@translate.bio |
mgavaghan@translate.bio |
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