UNITY Biotechnology Reports Granting of New Employment Inducement Award
March 11 2021 - 04:05PM
UNITY Biotechnology, Inc. (“UNITY”) [NASDAQ: UBX], a biotechnology
company developing therapeutics to slow, halt or reverse diseases
of aging, today announced that Alexander Nguyen has officially
joined UNITY as general counsel, and on March 9, 2021, the
Compensation Committee of the Board of Directors granted Alexander
Nguyen an option to purchase 250,000 shares of UNITY common stock
as a material inducement for Mr. Nguyen to commence employment with
UNITY as general counsel. The stock-based award was granted
pursuant to the UNITY 2020 Employment Inducement Incentive Plan, as
amended, which was approved by the Board of Directors in March 2020
to provide for grants to newly hired employees as a material
inducement for them to commence employment with UNITY in accordance
with Nasdaq Stock Market Rule 5635(c)(4). The option has a per
share exercise price of $6.69 and will vest and become exercisable
as to 25% of the shares underlying the option on March 8,
2022 and thereafter as to 1/48th of the shares underlying the
option on a monthly basis, subject to Mr. Nguyen’s continued
service to UNITY through the applicable vesting date.
About UNITYUNITY is developing a new class of
therapeutics to slow, halt or reverse diseases of aging. UNITY’s
current focus is on creating medicines to selectively eliminate or
modulate senescent cells and thereby provide transformative benefit
in age-related ophthalmologic and neurologic diseases.
More information is available
at www.unitybiotechnology.com or follow us
on Twitter and LinkedIn.
Media
Canale Communications
Jason Spark
Jason.spark@canalecomm.com
UNITY Biotechnology (NASDAQ:UBX)
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