Translate Bio Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4)
July 07 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 July 6, 2021, the
Company granted non-qualified stock options to purchase an
aggregate of 177,400 shares of the Company’s common stock to nine
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
$28.60 per share, equal to the closing price of Translate Bio’s
common stock on July 6, 2021. Each stock option has a ten year term
and vests over four years, with 25% of the shares underlying the
option vesting on or by July 6, 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 and license agreement with Sanofi
Pasteur. For more information about the Company, please
visit www.translate.bio or on Twitter at
@TranslateBio.
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Investor RelationsTeri
Dahlmantdahlman@translate.bio |
Media
RelationsMaura Gavaghanmgavaghan@translate.bio |
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