Climb Bio Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Climb Bio (NASDAQ: CLYM) has granted an inducement equity award to a new employee under its 2025 Inducement Plan, in accordance with Nasdaq Listing Rule 5635(c)(4). The award, granted on May 19, 2025, consists of a non-statutory stock option to purchase 120,000 shares of common stock at an exercise price of $1.27 per share, matching the closing price on Nasdaq Global Market. The option has a ten-year term and vests over four years, with 25% vesting after the first year and the remaining shares vesting in 36 monthly installments, contingent on continued employment.

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WELLESLEY HILLS, Mass., May 19, 2025 (GLOBE NEWSWIRE) -- Climb Bio, Inc. (Nasdaq: CLYM), a clinical-stage biotechnology company developing therapeutics for patients with immune-mediated diseases, today announced that the Company has granted an inducement equity award to a new employee, pursuant to the Company’s 2025 Inducement Plan, as an inducement material to the new employee entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).

The inducement equity award was granted to one new employee on May 19, 2025, and consisted of a non-statutory stock option to purchase up to an aggregate of 120,000 shares of common stock of the Company. The option has an exercise price of $1.27 per share, which is equal to the closing price per share of the Company’s common stock as reported by The Nasdaq Global Market on May 19, 2025. In addition, the option has a ten-year term and vests over four years, with 25% of the original number of shares vesting on the first anniversary of the employee’s start date and the remainder of the shares underlying the option vesting in 36 equal monthly installments thereafter, subject to the employee’s continued service with the Company through the applicable vesting dates. The inducement grant is subject to the terms and conditions of an award agreement and the Company’s 2025 Inducement Plan.

About Climb Bio, Inc.

Climb Bio, Inc. is a clinical-stage biotechnology company developing therapeutics for patients with immune-mediated diseases. The Company’s pipeline includes, budoprutug, an anti-CD19 monoclonal antibody that has demonstrated B-cell depletion and has potential to treat a broad range of B-cell mediated diseases, and CLYM116, an anti-APRIL monoclonal antibody currently in IND-enabling studies for IgA nephropathy. For more information, please visit climbbio.com.

Investors and Media
Carlo Tanzi, Ph.D.
Kendall Investor Relations
ctanzi@kendallir.com

FAQ

What type of stock option did Climb Bio (CLYM) grant to its new employee?

Climb Bio granted a non-statutory stock option to purchase 120,000 shares of common stock at $1.27 per share under its 2025 Inducement Plan.

What is the vesting schedule for CLYM's inducement grant announced on May 19, 2025?

The option vests over 4 years, with 25% vesting after the first year and the remaining shares vesting in 36 equal monthly installments, subject to continued employment.

What is the exercise price of Climb Bio's inducement grant issued in May 2025?

The exercise price is $1.27 per share, equal to CLYM's closing price on Nasdaq Global Market on May 19, 2025.

How long is the term of CLYM's inducement stock option grant?

The stock option has a ten-year term.