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

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Equillium, Inc. (Nasdaq: EQ), a clinical-stage biotechnology company focused on developing novel therapeutics for severe autoimmune and inflammatory disorders, has announced an inducement grant to a new employee. The Compensation Committee of Equillium's Board of Directors granted a nonstatutory stock option to purchase 10,000 shares of common stock under the company's 2024 Inducement Plan on August 30, 2024.

The stock option has an exercise price of $1.07 per share, equal to Equillium's closing stock price on the grant date. It will vest over four years, with 25% vesting on the one-year anniversary and the remaining balance vesting monthly over 36 months, subject to the employee's continued service. This grant was approved in accordance with Nasdaq Listing Rule 5635(c)(4) as an inducement material to the new employee's employment.

Equillium, Inc. (Nasdaq: EQ), una società biotecnologica in fase clinica focalizzata nello sviluppo di nuove terapie per gravi disturbi autoimmuni e infiammatori, ha annunciato un contributo di incentivo a un nuovo dipendente. Il Comitato per la Compensazione del Consiglio di Amministrazione di Equillium ha concesso un per acquistare 10.000 azioni di azioni ordinarie nell'ambito del Piano di Incentivo 2024 dell'azienda il 30 agosto 2024.

L'opzione di acquisto ha un prezzo di esercizio di $1.07 per azione, pari al prezzo di chiusura delle azioni di Equillium alla data del concessione. Essa maturerà in quattro anni, con il 25% che matura all'anniversario di un anno e il saldo rimanente che matura mensilmente per 36 mesi, soggetto alla continuazione del servizio da parte del dipendente. Questa concessione è stata approvata in conformità con la Regola di Quotazione Nasdaq 5635(c)(4) come incentivo materiale all'impiego del nuovo dipendente.

Equillium, Inc. (Nasdaq: EQ), una empresa de biotecnología en etapa clínica enfocada en desarrollar terapias nuevas para trastornos autoinmunes e inflamatorios severos, ha anunciado una subvención de incentivo para un nuevo empleado. El Comité de Compensación de la Junta Directiva de Equillium otorgó una opción de compra de acciones no estatutarias para adquirir 10,000 acciones de acciones ordinarias bajo el Plan de Incentivo 2024 de la empresa el 30 de agosto de 2024.

La opción de compra tiene un precio de ejercicio de $1.07 por acción, igual al precio de cierre de las acciones de Equillium en la fecha de la concesión. Esta opción se consolidará durante cuatro años, con un 25% consolidándose en el primer aniversario y el resto consolidándose mensualmente durante 36 meses, sujeto a la continuidad del servicio del empleado. Esta concesión fue aprobada de acuerdo con la Regla de Cotización del Nasdaq 5635(c)(4) como un incentivo material para el empleo del nuevo empleado.

Equillium, Inc. (Nasdaq: EQ)는 임상 단계의 생명공학 회사로, 심각한 자가면역 및 염증 질환을 위한 신규 치료제를 개발하는 데 주력하고 있으며, 새로운 직원에게 유인 보상을 발표했습니다. Equillium의 보상 위원회는 회사의 2024 유인 계획에 따라 2024년 8월 30일에 10,000주의 보통주를 매입할 수 있는 비유권 주식매수 선택권을 부여했습니다.

이 주식매수 선택권은 부여일 당시 Equillium의 마감 주가와 동일한 주당 $1.07의 행사 가격을 가지고 있습니다. 이 옵션은 4년 동안 분할 기발생되며, 최초 1년 기념일에 25%가 발생하고 나머지 36개월 동안 매달 발생하게 되며, 이는 직원의 계속된 서비스에 따라 달라집니다. 이 보상은 새로운 직원의 고용에 대한 유인으로서 Nasdaq 상장 규칙 5635(c)(4)에 따라 승인되었습니다.

Equillium, Inc. (Nasdaq: EQ), une entreprise de biotechnologie en phase clinique axée sur le développement de nouvelles thérapies pour des troubles auto-immuns et inflammatoires graves, a annoncé une subvention incitative à un nouvel employé. Le comité de rémunération du conseil d'administration d'Equillium a accordé une option d'achat d'actions non statutaire pour acheter 10 000 actions ordinaires dans le cadre du plan de subvention 2024 de l'entreprise le 30 août 2024.

L'option d'achat a un prix d'exercice de 1,07 $ par action, équivalent au prix de clôture de l'action Equillium à la date de la subvention. Elle s'épanouira sur quatre ans, avec 25 % qui s'épanouissent à l'anniversaire d'un an et le solde restant qui s'épanouit mensuellement sur 36 mois, sous réserve de la continuation du service de l'employé. Cette subvention a été approuvée conformément à la règle de cotation Nasdaq 5635(c)(4) en tant qu'incitation matérielle à l'emploi du nouvel employé.

Equillium, Inc. (Nasdaq: EQ), ein biotechnologisches Unternehmen in der klinischen Phase, das sich darauf konzentriert, neuartige Therapeutika für schwere Autoimmun- und Entzündungserkrankungen zu entwickeln, hat einen Incentive-Zuschuss an einen neuen Mitarbeiter bekannt gegeben. Der Vergütungsausschuss des Vorstandes von Equillium hat am 30. August 2024 eine nichtstatutarische Aktienoption zur Erwerb von 10.000 Aktien des Unternehmens im Rahmen des Incentive Plans 2024 gewährt.

Die Aktienoption hat einen Ausübungspreis von 1,07 $ pro Aktie, was dem Schlusskurs der Equillium-Aktien am Tag der Gewährung entspricht. Diese Option wird über vier Jahre fällig, wobei 25 % am einjährigen Jahrestag fällig werden und der Rest monatlich über 36 Monate fällig wird, vorbehaltlich der fortwährenden Tätigkeit des Mitarbeiters. Diese Gewährung wurde gemäß der Nasdaq-Listing-Regel 5635(c)(4) als wesentliche Anreiz für die Einstellung des neuen Mitarbeiters genehmigt.

Positive
  • Equillium is attracting new talent with stock-based compensation
  • The company has a structured vesting schedule to retain employees
Negative
  • The stock price of $1.07 per share indicates a low market valuation
  • The inducement grant may lead to potential dilution for existing shareholders

LA JOLLA, Calif.--(BUSINESS WIRE)-- Equillium, Inc. (Nasdaq: EQ), a clinical-stage biotechnology company focused on developing novel therapeutics to treat severe autoimmune and inflammatory disorders, today announced that on August 30, 2024, the Compensation Committee of Equillium’s Board of Directors granted an inducement award consisting of a nonstatutory stock option to purchase 10,000 shares of common stock to a new employee under Equillium’s 2024 Inducement Plan. The Compensation Committee approved the stock option as an inducement material to the new employee’s employment in accordance with Nasdaq Listing Rule 5635(c)(4).

The stock option has an exercise price per share equal to $1.07, Equillium’s closing stock price on August 30, and will vest over four years, with 25% of the underlying shares vesting on the one-year anniversary of the applicable vesting commencement date and the balance of the underlying shares vesting monthly thereafter over 36 months, subject to the new employee’s continued service relationship with Equillium through the applicable vesting dates. The stock option is subject to the terms and conditions of Equillium’s 2024 Inducement Plan and the terms and conditions of an applicable stock option agreement covering the grant.

About Equillium

Equillium is a clinical-stage biotechnology company leveraging a deep understanding of immunobiology to develop novel therapeutics to treat severe autoimmune and inflammatory disorders with high unmet medical need. The company’s pipeline consists of the following novel first-in-class immunomodulatory assets and product platform targeting immuno-inflammatory pathways. EQ101: a selective tri-specific cytokine inhibitor targeting IL-2, IL-9, and IL-15; recently announced positive results from a Phase 2 proof-of-concept clinical study of patients with alopecia areata. EQ302: an orally delivered, selective bi-specific cytokine inhibitor targeting IL-15 and IL-21; currently in pre-clinical development. The multi-cytokine platform: generates rationally designed composite peptides that selectively block key cytokines at the shared receptor level targeting pathogenic cytokine redundancies and synergies while preserving non-pathogenic signaling. Itolizumab: a monoclonal antibody that targets the CD6-ALCAM signaling pathway which plays a central role in the modulation of effector T cells; currently under evaluation in a Phase 3 clinical study of patients with acute graft-versus-host disease (aGVHD) and announced positive data from a Phase 1b clinical study of patients with lupus/lupus nephritis in April 2024. Equillium acquired rights to itolizumab through an exclusive partnership with Biocon Limited and has entered a strategic partnership with Ono Pharmaceutical Co., Ltd., for the development and commercialization of itolizumab under an option and asset purchase agreement.

For more information, visit www.equilliumbio.com.

Forward Looking Statements

Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "anticipate", "believe", “could”, “continue”, "expect", "estimate", “may”, "plan", "outlook", “future” and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Because such statements are subject to risks and uncertainties, many of which are outside of Equillium’s control, actual results may differ materially from those expressed or implied by such forward-looking statements. Risks that contribute to the uncertain nature of the forward-looking statements include: Equillium’s ability to execute its plans and strategies; risks related to performing clinical studies; and whether the results from clinical studies will validate and support the safety and efficacy of Equillium’s product candidates. These and other risks and uncertainties are described more fully under the caption "Risk Factors" and elsewhere in Equillium's filings and reports, which may be accessed for free by visiting the Securities and Exchange Commission’s website at www.sec.gov and on Equillium’s website under the heading “Investors.” Investors should take such risks into account and should not rely on forward-looking statements when making investment decisions. All forward-looking statements contained in this press release speak only as of the date on which they were made. Equillium undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.

Investor Contact

Michael Moore

Vice President, Investor Relations & Corporate Communications

619-302-4431

ir@equilliumbio.com

Source: Equillium, Inc.

FAQ

What type of inducement grant did Equillium (EQ) announce on August 30, 2024?

Equillium (EQ) announced a nonstatutory stock option grant to purchase 10,000 shares of common stock under its 2024 Inducement Plan.

What is the exercise price of the stock option granted by Equillium (EQ)?

The stock option has an exercise price of $1.07 per share, which was Equillium's closing stock price on August 30, 2024.

How does the vesting schedule work for Equillium's (EQ) inducement grant?

The stock option vests over four years, with 25% vesting on the one-year anniversary and the remaining balance vesting monthly over 36 months, subject to continued employment.

Under which Nasdaq rule was Equillium's (EQ) inducement grant approved?

The inducement grant was approved in accordance with Nasdaq Listing Rule 5635(c)(4).

Equillium, Inc.

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