SAN FRANCISCO, April 26, 2019 /PRNewswire/ -- Audentes
Therapeutics, Inc. (Nasdaq: BOLD), a biotechnology company
focused on developing and commercializing innovative gene therapy
products for patients living with serious, life-threatening rare
diseases, announced it has granted equity awards on April 24,
2019, that were previously approved by the Compensation Committee
of its Board of Directors under the Audentes Therapeutics, Inc.
2018 Equity Inducement Plan, as a material inducement to employment
to nine individuals hired by Audentes from April 2 through April 24, 2019. The equity awards
were approved in accordance with Nasdaq Listing Rule
5635(c)(4).
The employees received, in the aggregate, options to purchase
70,200 shares of Audentes common stock. The options have an
exercise price of $40.56 per share, which is equal to the
closing price of Audentes common stock on April 24, 2019.
One-fourth of the shares underlying each employee's option
will vest on the one year anniversary of his or her date of hire
and thereafter 1/48th of the shares underlying each
employee's option will vest monthly, such that the shares
underlying the option granted to each employee will be fully vested
on the fourth anniversary of his or her date of hire, in each case,
subject to each such employee's continued employment with Audentes
on such vesting dates.
Nine employees also received, in the aggregate, 34,800
restricted stock units ("RSUs"). One-fourth of the RSUs will
vest on the first anniversary of the date that vesting of the RSUs
commences, and 1/16th of the RSUs will vest quarterly
thereafter, such that the RSUs will be fully vested on the fourth
anniversary of the date that vesting of the RSUs commences, subject
to each such employee's continued employment with Audentes on such
vesting dates.
About Audentes Therapeutics, Inc.
Audentes
Therapeutics (Nasdaq: BOLD) is a leading AAV-based genetic
medicines company focused on developing and commercializing
innovative products for serious rare neuromuscular diseases.
We are leveraging our AAV gene therapy technology platform and
proprietary manufacturing expertise to develop programs across
three modalities: gene replacement, vectorized exon skipping, and
vectorized RNA knockdown. Our product candidates are showing
promising therapeutic profiles in clinical and preclinical studies
across a range of neuromuscular diseases. Audentes is a focused,
experienced and passionate team driven by the goal of improving the
lives of patients.
For more information regarding Audentes, please visit
www.audentestx.com.
Audentes Contacts:
Investor Contact:
Andrew Chang
415.818.1033
achang@audentestx.com
Media Contacts:
Sarah Spencer
415.957.2020
sspencer@audentestx.com
Katie Hogan
415.951.3398
khogan@audentestx.com
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SOURCE Audentes Therapeutics, Inc.