Disc Medicine Reports Inducement Grant under Nasdaq Listing Rule 5635(C)(4)

Rhea-AI Summary

Disc Medicine (NASDAQ:IRON) has announced an inducement equity award for a new employee, effective January 16, 2025. The award consists of two components: (1) an option to purchase 35,000 shares of common stock at the January 16, 2025 closing price, and (2) a restricted stock unit (RSU) award for 23,333 shares.

The stock option has a ten-year term with 25% vesting on January 16, 2026, and the remaining vesting monthly over 36 months. The RSU award vests in equal installments over four years. The Compensation Committee approved this award as an employment inducement under Nasdaq Rule 5635(c)(4), outside the company's regular stock incentive plan but under similar terms.

WATERTOWN, Mass., Jan. 17, 2025 (GLOBE NEWSWIRE) -- Disc Medicine, Inc. (NASDAQ:IRON), a clinical-stage biopharmaceutical company focused on the discovery, development, and commercialization of novel treatments for patients suffering from serious hematologic diseases, today announced the grant of an inducement equity award to a new employee, effective January 16, 2025.

The inducement award is comprised of (i) an option to purchase 35,000 shares of Disc’s common stock, at an exercise price equal to the closing price of Disc’s common stock on January 16, 2025, and (ii) a restricted stock unit (RSU) award for 23,333 shares of Disc’s common stock. The stock option has a ten-year term and will vest as to 25% of the shares underlying the stock option on January 16, 2026, with the remainder vesting in 36 equal monthly installments thereafter, subject to continued service through the applicable vesting date. The RSU award shall vest in equal installments on each of the first, second, third, and fourth anniversaries of the vesting date set by Disc’s vesting policy, subject to continued service through the applicable vesting date.

The inducement award was approved by the Compensation Committee of Disc’s Board of Directors and was made as an inducement material to the employee entering into employment with Disc in accordance with Nasdaq Listing Rule 5635(c)(4). While the inducement award was granted outside of Disc’s Amended and Restated 2021 Stock Option and Incentive Plan, the award is subject to terms and conditions substantially consistent with those set forth under such plan.

About Disc Medicine

Disc Medicine is a clinical-stage biopharmaceutical company committed to discovering, developing, and commercializing novel treatments for patients who suffer from serious hematologic diseases. We are building a portfolio of innovative, potentially first-in-class therapeutic candidates that aim to address a wide spectrum of hematologic diseases by targeting fundamental biological pathways of red blood cell biology, specifically heme biosynthesis and iron homeostasis. For more information, please visit www.discmedicine.com.

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FAQ

What are the terms of IRON's January 2025 inducement equity award?

The award includes an option to purchase 35,000 shares at the January 16, 2025 closing price and 23,333 RSUs. The option vests 25% after one year and the remainder monthly over 36 months, while RSUs vest equally over four years.

How long is the vesting period for IRON's January 2025 stock option grant?

The stock option has a ten-year term with 25% vesting on January 16, 2026, and the remaining 75% vesting in 36 equal monthly installments thereafter.

How many RSUs were granted in IRON's January 2025 inducement award?

Disc Medicine granted 23,333 restricted stock units (RSUs) as part of the inducement award, vesting in equal installments over four years.

Under which rule was IRON's January 2025 inducement grant approved?

The inducement award was approved under Nasdaq Listing Rule 5635(c)(4), which allows for employment inducement grants outside of the company's regular stock incentive plan.