Seres Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Seres Therapeutics, Inc. (MCRB) granted 700,000 stock options to Marella Thorell, the new Executive Vice President and Chief Financial Officer. The options are part of the 2022 Employment Inducement Award Plan and have an exercise price of $0.79 per share.

CAMBRIDGE, Mass.--(BUSINESS WIRE)-- Seres Therapeutics, Inc. (Nasdaq: MCRB) (“Seres” or the “Company”), a leading microbiome therapeutics company, today announced that on March 25, 2024, the Compensation and Talent Committee of Seres’ board of directors granted inducement equity grants covering an aggregate of 700,000 shares of its common stock to Marella Thorell, the Company’s new Executive Vice President and Chief Financial Officer, consisting entirely of stock options.

These stock options are subject to the terms of the Seres Therapeutics, Inc. 2022 Employment Inducement Award Plan (the “Inducement Plan”).

The Inducement Plan is used exclusively for the grant of equity awards to individuals as an inducement material to their entering into employment with Seres pursuant to Nasdaq Listing Rule 5635(c)(4). The Inducement Plan was adopted by Seres’ board of directors in December 2022.

The stock options have an exercise price of $0.79 per share. The option will vest as to 25% of the total number of shares subject to the option on March 25, 2025 (subject to her continued service to the Company through such date) and as to 6.25% of such shares upon Ms. Thorell’s completing each three months of continuous service to the Company thereafter.

About Seres Therapeutics

Seres Therapeutics, Inc. (Nasdaq: MCRB) is a commercial-stage company developing novel microbiome therapeutics for serious diseases. For more information, please visit www.serestherapeutics.com.

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IR and PR

Rob Windsor

Rwindsor@serestherapeutics.com

Source: Seres Therapeutics, Inc.

How many stock options were granted to Marella Thorell?

Seres Therapeutics, Inc. granted Marella Thorell 700,000 stock options.

What is the exercise price of the stock options?

The exercise price of the stock options is $0.79 per share.

When will the stock options vest?

The stock options will vest 25% on March 25, 2025, and 6.25% upon completion of each three months of continuous service thereafter.

What is the purpose of the Inducement Plan?

The Inducement Plan is used for granting equity awards to individuals as an inducement material to their employment with Seres.