Intellia Therapeutics Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4)
24 Juli 2024 - 10:01PM
Intellia Therapeutics, Inc. (NASDAQ:NTLA), a leading clinical-stage
gene editing company focused on revolutionizing medicine with
CRISPR-based therapies, today announced that it awarded inducement
grants on July 22, 2024 to its Executive Vice President and Chief
Financial Officer, Edward Dulac, under Intellia’s 2024 Inducement
Plan as a material inducement to employment.
The inducement grants consisted of non-qualified stock options
to purchase 96,219 shares of Intellia’s common stock with an
exercise price of $25.33 per share, the closing price of Intellia’s
common stock as reported by Nasdaq on July 22, 2024, with 33% of
the options underlying the option award vesting on the first
anniversary of the grant date and the remainder vesting monthly
thereafter until fully vested on the third anniversary of the grant
date; time-based restricted stock units (“RSUs”) for 66,324 shares
of Intellia’s common stock, with one-third of the shares underlying
the RSU award vesting on each of the three consecutive
anniversaries of the grant date; performance-based RSUs for 33,162
shares of Intellia’s common stock, with vesting criteria linked
directly to Intellia’s total stockholder return over a three-year
period compared to the companies comprising the Nasdaq
Biotechnology Index at the beginning of the performance period; and
performance-based RSUs for 30,000 shares (at target) of Intellia’s
common stock, with vesting criteria linked directly to certain
development milestones over a three-year period.
All equity vesting is subject to Mr. Dulac’s continued service
as an employee of, or other service provider to, Intellia through
the applicable vesting dates.
All of the above-described awards were granted outside of
Intellia’s stockholder-approved equity incentive plans pursuant to
Intellia’s 2024 Inducement Plan, which was adopted by the board of
directors in June 2024. The awards were approved by a majority of
the independent directors of Intellia’s board of directors as a
material inducement to Mr. Dulac’s entering into employment with
Intellia in accordance with Nasdaq Listing Rule 5635(c)(4).
About Intellia Therapeutics
Intellia Therapeutics, Inc. (NASDAQ:NTLA) is a leading
clinical-stage gene editing company focused on revolutionizing
medicine with CRISPR-based therapies. The company’s in
vivo programs use CRISPR to enable precise editing of
disease-causing genes directly inside the human body.
Intellia’s ex vivo programs use CRISPR to engineer human
cells outside the body for the treatment of cancer and autoimmune
diseases. Intellia’s deep scientific, technical and clinical
development experience, along with its people, is helping set the
standard for a new class of medicine. To harness the full potential
of gene editing, Intellia continues to expand the capabilities of
its CRISPR-based platform with novel editing and delivery
technologies. Learn more at intelliatx.com and follow us
@intelliatx.
Intellia Contacts:
Investors:Ian KarpSenior Vice President,
Investor Relations and Corporate
Communicationsian.karp@intelliatx.com
Lina LiSenior Director, Investor Relations and Corporate
Communicationslina.li@intelliatx.com
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