INOVIO Reports Inducement Grant Under Inducement Plan

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INOVIO (NASDAQ:INO) announced an equity grant under its 2022 Inducement Plan for a newly hired employee. The Compensation Committee approved a stock option award of 1,666 shares with a grant date of November 30, 2024. The option has an exercise price of $4.32, based on the closing price on November 29, 2024. The stock option will vest in four equal installments: one-fourth on the grant date and additional one-fourth portions on the first, second, and third anniversaries, subject to continued employment.

PLYMOUTH MEETING, Pa., Nov. 29, 2024 /PRNewswire/ -- INOVIO (NASDAQ:INO), a biotechnology company focused on developing and commercializing DNA medicines to help treat and protect people from HPV-related diseases, cancer, and infectious diseases, today announced that it has made an equity grant to a newly hired employee under its 2022 Inducement Plan (the "Inducement Plan").

The Compensation Committee of INOVIO's Board of Directors has approved the award of an option to purchase 1,666 shares of common stock with a grant date of November 30, 2024 (the "Grant Date"), to a newly hired employee in accordance with Nasdaq Listing Rule 5635(c)(4).

The stock option has an exercise price of $4.32, the closing price of INOVIO's common stock on November 29, 2024 (the last trading date preceding the Grant Date, which is not a trading day). The stock option will vest and become exercisable with respect to one-fourth of the shares underlying the stock option on the Grant Date, and an additional one-fourth of the shares underlying the stock option on the first, second, and third anniversaries of the Grant Date. The vesting of the stock option will be subject to the employee's continued employment with INOVIO on the applicable vesting dates. This award is subject to the terms and conditions of a stock option agreement under the Inducement Plan.

About INOVIO
INOVIO is a biotechnology company focused on developing and commercializing DNA medicines to help treat and protect people from HPV-related diseases, cancer, and infectious diseases. INOVIO's technology optimizes the design and delivery of innovative DNA medicines that teach the body to manufacture its own disease-fighting tools. For more information, visit www.inovio.com.

Contacts
Media: Jennie Willson, (267) 429-8567, jennie.willson@inovio.com
Investors: Thomas Hong, (267) 440-4298, thomas.hong@inovio.com

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SOURCE INOVIO Pharmaceuticals, Inc.

FAQ

What is the exercise price of INOVIO's (INO) new stock option grant announced on November 29, 2024?

The stock option has an exercise price of $4.32, which was INOVIO's closing price on November 29, 2024.

How many shares were granted in INOVIO's (INO) November 2024 inducement grant?

INOVIO granted stock options for 1,666 shares of common stock to a newly hired employee.

What is the vesting schedule for INOVIO's (INO) November 2024 inducement grant?

The stock option vests in four equal installments: one-fourth on the grant date and additional one-fourth portions on the first, second, and third anniversaries of the grant date.