Translate Bio Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4)
September 08 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 September 8,
2021, the Company granted restricted stock units for an aggregate
of 54,078 shares of the Company’s common stock to twenty new
employees. These grants were made pursuant to the Company’s 2021
Inducement Stock Incentive Plan, were approved by the Company’s
compensation committee 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.
Each restricted stock unit has a ten-year term
and vests over four years, with 25% of the shares underlying the
restricted stock unit vesting on or by September 8, 2022 and in
thirty-six equal monthly installments thereafter as to the
remaining shares. The vesting of each grant of restricted stock
unit 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.
Investor Relations |
Media Relations |
Teri Dahlman |
Maura Gavaghan |
tdahlman@translate.bio |
mgavaghan@translate.bio |
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