PLYMOUTH
MEETING, Pa., May 1, 2024
/PRNewswire/ -- INOVIO (NASDAQ: INO), a biotechnology company
focused on developing and commercializing DNA medicines
to help treat and protect people from HPV-related diseases,
cancer, and infectious diseases, today announced that it has
made equity grants to two newly hired
employees under its 2022 Inducement Plan (the "Inducement
Plan").
The Compensation Committee of INOVIO's Board of Directors has
approved the awards of restricted stock units
("RSU"s) covering an aggregate of 415 shares of common stock
and options to purchase an aggregate
of 3,483 shares of common stock, with a grant date of
April 30, 2024 (the "Grant Date"), to two
newly hired employees in accordance with Nasdaq Listing
Rule 5635(c)(4).
The RSUs will vest over a three-year period, with one-third of
the shares vesting on each of the first, second and third
anniversaries of the respective employee start date. The stock
option has an exercise price of $11.45, the closing price of INOVIO's common
stock on the Grant Date. The stock options will vest and become
exercisable with respect to one-fourth of the shares underlying the
stock option vested on the Grant Date, and an additional one-fourth
of the shares underlying the stock options on the first, second,
and third anniversaries of the respective employee start date. The
vesting of the RSUs and stock options will be subject to the
employee's continued employment with INOVIO on the applicable
vesting dates. Each of these awards is subject to the terms and
conditions of a stock option agreement and RSU award
agreement, as applicable, under the Inducement Plan.
About INOVIO
INOVIO is a biotechnology company focused
on developing and commercializing DNA medicines to help treat and
protect people from HPV-related diseases, cancer, and infectious
diseases. INOVIO's technology optimizes the design and delivery of
innovative DNA medicines that teach the body to manufacture its own
disease-fighting tools. For more information, visit
www.inovio.com.
Contacts
Media: Jennie
Willson, (267) 429-8567, jennie.willson@inovio.com
Investors: Thomas Hong, (267)
440-4298, thomas.hong@inovio.com
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SOURCE INOVIO Pharmaceuticals, Inc.