Translate Bio Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4)
03 Februar 2021 - 10:30PM
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 February 1, 2021,
the Company granted non-qualified stock options to purchase an
aggregate of 57,550 shares of the Company’s common stock to four
newly hired 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
$24.46 per share, equal to the closing price of Translate Bio’s
common stock on February 1, 2021. Each stock option has a ten year
term and vests over four years, with 25% of the shares underlying
the option vesting on February 1, 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 caused by insufficient protein production or where the
reduction of proteins can modify disease. Translate Bio’s lead
pulmonary candidate is 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 believes that mRNA can be delivered to target tissues
via multiple routes of administration and, consequently, its
technology may apply broadly to a wide range of diseases, including
diseases that affect the liver. Translate Bio is also pursuing the
development of mRNA vaccines for infectious diseases under a
collaboration with Sanofi Pasteur.
Investor
Relations |
|
Media
Relations |
Teri Dahlman |
|
Maura Gavaghan |
Tel.: +1 (617) 817-8655 |
|
Tel: +1 (617) 233-1154 |
tdahlman@translate.bio |
|
mgavaghan@translate.bio |
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