Dyne Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4) to Newly Appointed Chief Financial Officer

Rhea-AI Summary

Dyne Therapeutics (Nasdaq: DYN), a clinical-stage company developing therapeutics for genetically driven neuromuscular diseases, has granted inducement equity awards to its new Chief Financial Officer, Erick J. Lucera. The awards include:

• A non-statutory stock option to purchase 214,500 shares at the March 31, 2025 closing price
• A restricted stock unit (RSU) award for 66,100 shares

The stock option has a 10-year term with a 4-year vesting schedule: 25% vesting on March 31, 2026, and the remainder in quarterly installments over three years. The RSU award vests in equal annual installments over four years, starting March 31, 2026. Both awards are contingent on Mr. Lucera's continued service and were granted under Dyne's 2024 Inducement Stock Incentive Plan, complying with Nasdaq Listing Rule 5635(c)(4).

Positive

• Successful recruitment of new CFO with competitive equity compensation package
• Long-term retention incentives through 4-year vesting schedule

Negative

• Potential future shareholder dilution from 280,600 total shares in equity awards

WALTHAM, Mass., March 20, 2025 (GLOBE NEWSWIRE) -- Dyne Therapeutics, Inc. (Nasdaq: DYN), a clinical-stage company focused on advancing life-transforming therapeutics for people living with genetically driven neuromuscular diseases, today announced it has granted inducement equity awards to its newly appointed Chief Financial Officer, Erick J. Lucera. The awards were approved by the Compensation Committee of Dyne and made as an inducement material to Mr. Lucera’s acceptance of employment with Dyne under Dyne’s 2024 Inducement Stock Incentive Plan in accordance with Nasdaq Listing Rule 5635(c)(4).

The inducement equity awards were granted to Mr. Lucera effective as of March 31, 2025 and consists of a non-statutory stock option to purchase up to 214,500 shares of Dyne’s common stock at a per share exercise price equal to the closing price of Dyne’s common stock on The Nasdaq Global Select Market on March 31, 2025, and a restricted stock unit award with respect to 66,100 shares of Dyne’s common stock. The stock option award has a ten-year term and is scheduled to vest over four years, with 25% of the original number of shares vesting on March 31, 2026 and the remainder vesting in equal quarterly installments over the three years thereafter, subject to Mr. Lucera’s continued service to Dyne through the applicable vesting dates. The restricted stock unit award is scheduled to vest in equal annual installments over four years with the first installment vesting on March 31, 2026, subject to Mr. Lucera’s continued service to Dyne through the applicable vesting dates.

The inducement equity awards are subject to the terms and conditions of the award agreements covering the grants and Dyne’s 2024 Inducement Stock Incentive Plan.

About Dyne Therapeutics

Dyne Therapeutics is discovering and advancing innovative life-transforming therapeutics for people living with genetically driven neuromuscular diseases. Leveraging the modularity of its FORCE™ platform, Dyne is developing targeted therapeutics that deliver to muscle and the central nervous system (CNS). Dyne has a broad pipeline for neuromuscular diseases, including clinical programs for myotonic dystrophy type 1 (DM1) and Duchenne muscular dystrophy (DMD) and preclinical programs for facioscapulohumeral muscular dystrophy (FSHD) and Pompe disease. For more information, please visit https://www.dyne-tx.com/, and follow us on X, LinkedIn and Facebook.

Contacts:

Investors
Mia Tobias
ir@dyne-tx.com
781-317-0353

Media
Stacy Nartker
snartker@dyne-tx.com
781-317-1938

FAQ

What equity compensation package did Dyne Therapeutics (DYN) offer to its new CFO?

DYN offered 214,500 stock options and 66,100 restricted stock units to CFO Erick Lucera, both vesting over 4 years starting March 31, 2026.

How are the stock options structured in DYN's CFO compensation package?

The stock options vest 25% after one year on March 31, 2026, with remaining shares vesting quarterly over three years, with a 10-year exercise term.

What is the vesting schedule for DYN's CFO restricted stock units?

The 66,100 RSUs vest in equal annual installments over four years, with the first vesting occurring on March 31, 2026.

Under which regulatory framework did DYN grant the CFO equity awards?

The awards were granted under Dyne's 2024 Inducement Stock Incentive Plan in compliance with Nasdaq Listing Rule 5635(c)(4).