aTyr Pharma Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

aTyr Pharma (Nasdaq: ATYR) has announced the approval of inducement grants for three new employees by its Board's Compensation Committee on March 21, 2025. The grants consist of nonstatutory stock options to purchase 43,800 shares at a weighted-average price of $3.69 per share, matching the weighted-average closing price on Nasdaq Capital Market.

The stock options, granted under the aTyr Pharma 2022 Inducement Plan, feature a four-year vesting schedule with 25% vesting after one year and the remaining 75% vesting monthly over three years, contingent on continued employment. These grants comply with Nasdaq Listing Rule 5635(c)(4).

aTyr is developing first-in-class medicines from its tRNA synthetase platform, with its lead candidate efzofitimod targeting interstitial lung disease treatment.

Positive

• Company maintains ability to attract talent through equity compensation
• Structured vesting schedule helps retain employees over 4-year period

Negative

• Potential shareholder dilution from 43,800 new shares

News Market Reaction

-3.99%

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-3.99% News Effect

On the day this news was published, ATYR declined 3.99%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

SAN DIEGO, March 27, 2025 (GLOBE NEWSWIRE) -- aTyr Pharma, Inc. (Nasdaq: ATYR) (“aTyr” or “the Company”), a clinical stage biotechnology company engaged in the discovery and development of first-in-class medicines from its proprietary tRNA synthetase platform, today announced that the Compensation Committee of aTyr’s Board of Directors approved on March 21, 2025 an aggregate of three grants to three employees of nonstatutory stock options to purchase an aggregate of 43,800 shares of aTyr’s common stock with a weighted-average exercise price of $3.69 per share, which is equal to the weighted-average closing price of aTyr’s common stock on the Nasdaq Capital Market on the effective dates of the grants. These stock awards were granted as an inducement material to the new employees entering into employment with aTyr in accordance with Nasdaq Listing Rule 5635(c)(4) and were made pursuant to the aTyr Pharma, Inc. 2022 Inducement Plan.

Each option vests over a period of four years, with 25% of the shares vesting on the one-year anniversary of the applicable vesting commencement date and the remaining 75% vesting in equal monthly installments over three years, subject to the applicable employee’s continued employment with aTyr through each vesting date. The options are subject to the terms and conditions of the aTyr Pharma, Inc. 2022 Inducement Plan and the terms and conditions of an award agreement covering the grant.

About aTyr

aTyr is a clinical stage biotechnology company leveraging evolutionary intelligence to translate tRNA synthetase biology into new therapies for fibrosis and inflammation. tRNA synthetases are ancient, essential proteins that have evolved novel domains that regulate diverse pathways extracellularly in humans. aTyr’s discovery platform is focused on unlocking hidden therapeutic intervention points by uncovering signaling pathways driven by its proprietary library of domains derived from all 20 tRNA synthetases. aTyr’s lead therapeutic candidate is efzofitimod, a first-in-class biologic immunomodulator in clinical development for the treatment of interstitial lung disease, a group of immune-mediated disorders that can cause inflammation and progressive fibrosis, or scarring, of the lungs. For more information, please visit www.atyrpharma.com.

Contact:
Ashlee Dunston
Sr. Director, Investor Relations and Public Affairs
adunston@atyrpharma.com 

FAQ

What are the terms of aTyr Pharma's (ATYR) March 2025 inducement grants?

The grants include options to purchase 43,800 shares at $3.69 per share, vesting over 4 years with 25% after year one and remaining 75% monthly over three years.

How many employees received stock options in aTyr Pharma's March 2025 inducement grants?

Three new employees received nonstatutory stock options as inducement grants.

What is the vesting schedule for aTyr Pharma's (ATYR) March 2025 inducement grants?

Options vest over 4 years: 25% after first year, remaining 75% in equal monthly installments over three years, subject to continued employment.

What is aTyr Pharma's (ATYR) lead therapeutic candidate?

Efzofitimod is aTyr's lead therapeutic candidate, targeting interstitial lung disease treatment.