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

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03/28/2024 - 07:00 AM

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.