BridgeBio Pharma Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

BridgeBio Pharma, Inc. approved equity grants for 16 new employees totaling 71,146 shares of common stock. The grants vest over time and were made under the Amended and Restated 2019 Inducement Equity Plan.

PALO ALTO, Calif., March 20, 2024 (GLOBE NEWSWIRE) -- BridgeBio Pharma, Inc. (Nasdaq: BBIO) (“BridgeBio” or the “Company”), a commercial-stage biopharmaceutical company focused on genetic diseases and cancers, today announced that on March 16, 2024, the compensation committee of BridgeBio’s board of directors approved equity grants to 16 new employees in restricted stock units for an aggregate of 71,146 shares of the Company’s common stock, with the effective date of March 18, 2024. One-fourth of the shares underlying each employee’s restricted stock units will vest on February 16, 2025, with one-twelfth of the remaining shares underlying each such employee’s restricted stock units vesting on a quarterly basis thereafter, in each case, subject to each such employee’s continued employment with the Company or one of its subsidiaries on such vesting dates. All of the above-described awards were made under BridgeBio’s Amended and Restated 2019 Inducement Equity Plan (the “Plan”).

The above-described awards were each granted as an inducement material to the employees entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4) and were granted pursuant to the terms of the Plan. The Plan was adopted by BridgeBio’s board of directors in November 2019, and amended and restated on February 10, 2023 and on December 13, 2023.

About BridgeBio Pharma, Inc.

BridgeBio Pharma, Inc. is a commercial-stage biopharmaceutical company founded to discover, create, test, and deliver transformative medicines to treat patients who suffer from genetic diseases and cancers with clear genetic drivers. BridgeBio’s pipeline of development programs ranges from early science to advanced clinical trials. BridgeBio was founded in 2015 and its team of experienced drug discoverers, developers and innovators are committed to applying advances in genetic medicine to help patients as quickly as possible. For more information visit bridgebio.com and follow us on LinkedIn and Twitter.

BridgeBio Contact:

Vikram Bali
contact@bridgebio.com
(650)-789-8220

 

How many new employees received equity grants from BridgeBio Pharma, Inc.?

16 new employees received equity grants from BridgeBio Pharma, Inc.

How many shares of common stock were granted in total?

A total of 71,146 shares of common stock were granted.

What is the effective date of the equity grants?

The effective date of the equity grants is March 18, 2024.

How will the shares underlying the restricted stock units vest?

One-fourth of the shares will vest on February 16, 2025, with one-twelfth vesting quarterly thereafter.

Under which plan were the awards granted?

The awards were granted under BridgeBio's Amended and Restated 2019 Inducement Equity Plan.