Savara Announces New Employment Inducement Grant
December 23 2024 - 4:05PM
Business Wire
Savara Inc. (Nasdaq: SVRA), a clinical stage biopharmaceutical
company focused on rare respiratory diseases, today announced the
grant of inducement awards to five new employees.
On December 20, 2024, the Compensation Committee of Savara's
Board of Directors granted the inducement awards to five new
employees who recently joined the Company. The inducement awards
consist of options to purchase an aggregate of 100,000 shares of
the Company’s common stock and restricted stock units (RSUs)
covering an aggregate of 100,000 shares of the Company’s common
stock. These equity awards were granted under the Savara Inc. 2021
Inducement Equity Incentive Plan pursuant to Rule 5635(c)(4) of the
NASDAQ Listing Rules as an inducement material to the employees’
acceptance of employment with the Company.
The options have an exercise price of $3.23 per share, the
closing trading price of the Company's common stock on the NASDAQ
Global Market on the grant date. Each option has a 10-year term and
vests as to 1/16th of the number of shares subject to the option on
each quarterly anniversary of the employee’s first day of
employment, subject to the employee’s continued employment on each
such vesting date. The RSUs vest in full on the two-year
anniversary of the employee’s first day of employment, subject to
the employee’s continued employment on such vesting date.
About Savara
Savara is a clinical stage biopharmaceutical company focused on
rare respiratory diseases. Our lead program, MOLBREEVI*, is a
recombinant human granulocyte-macrophage colony-stimulating factor
(GM-CSF) in Phase 3 development for autoimmune pulmonary alveolar
proteinosis (aPAP). MOLBREEVI is delivered via an investigational
eFlow® Nebulizer System (PARI Pharma GmbH). Our management team has
significant experience in rare respiratory diseases and pulmonary
medicine, identifying unmet needs, and effectively advancing
product candidates to approval and commercialization. More
information can be found at www.savarapharma.com, X: @SavaraPharma,
LinkedIn: www.linkedin.com/company/savara-pharmaceuticals/).
*MOLBREEVI is the FDA and EMA conditionally accepted trade name
for molgramostim inhalation solution.
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version on businesswire.com: https://www.businesswire.com/news/home/20241223814372/en/
Media and Investor Relations
Contact Savara Inc. Temre Johnson, Executive Director,
Corporate Affairs ir@savarapharma.com
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