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

Rhea-AI Summary

BridgeBio Pharma announces the grant of restricted stock units to new employees. The units will vest on specific dates based on continued employment. The awards were made under the company's Inducement Equity Plan.

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• BridgeBio Pharma granted 71,250 shares of restricted stock units to new employees. The units will vest on August 16, 2024, and on a quarterly basis thereafter, subject to continued employment. This shows the company's commitment to retaining talent and incentivizing employees.

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• None.

PALO ALTO, Calif., July 18, 2023 (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 July 10, 2023, the compensation committee of BridgeBio’s board of directors granted eight new employees restricted stock units for an aggregate of 71,250 shares of the Company’s common stock. One-fourth of the shares underlying each employee’s restricted stock units will vest on August 16, 2024, 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.

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

 

What did BridgeBio Pharma announce?

BridgeBio Pharma announced the grant of restricted stock units to new employees.

How many shares of restricted stock units were granted?

BridgeBio Pharma granted 71,250 shares of restricted stock units.

When will the restricted stock units vest?

The units will vest on August 16, 2024, and on a quarterly basis thereafter, subject to continued employment.

Under what plan were the awards made?

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

Why were the awards granted?

The awards were granted as an inducement material to the employees entering into employment with the company.