Intellia Therapeutics Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4)
Rhea-AI Summary
Intellia Therapeutics (NASDAQ:NTLA), a clinical-stage gene editing company, has granted inducement awards to eleven new employees under its 2024 Inducement Plan. The awards consist of time-based restricted stock units (RSUs) for 32,600 shares of common stock.
The RSUs will vest in three equal installments on March 1 of 2026, 2027, and 2028, contingent upon continued employment. These equity awards were granted outside of Intellia's stockholder-approved plans through the 2024 Inducement Plan, which was adopted by the board in June 2024. The compensation committee approved these awards as material inducement for employment in accordance with Nasdaq Listing Rule 5635(c)(4).
Positive
- Successful recruitment of 11 new employees indicating company growth
Negative
- 32,600 new shares creating minor dilution for existing shareholders
News Market Reaction 1 Alert
On the day this news was published, NTLA gained 2.97%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
CAMBRIDGE, Mass., March 04, 2025 (GLOBE NEWSWIRE) -- Intellia Therapeutics, Inc. (NASDAQ:NTLA), a leading clinical-stage gene editing company focused on revolutionizing medicine with CRISPR-based therapies, today announced that on March 1, 2025, it awarded an inducement grant to eleven new employees under Intellia’s 2024 Inducement Plan as a material inducement to employment.
The inducement grant consisted of time-based restricted stock units (“RSUs”) for 32,600 shares of Intellia’s common stock, with one-third of such RSUs vesting on March 1, 2026, 2027 and 2028.
All equity vesting is subject to each employee’s continued service as an employee of, or other service provider to, Intellia through the applicable vesting dates.
All of the above-described awards were granted outside of Intellia’s stockholder-approved equity incentive plans pursuant to Intellia’s 2024 Inducement Plan, which was adopted by the board of directors in June 2024. These awards were approved by Intellia’s compensation committee as a material inducement to entering into employment with Intellia in accordance with Nasdaq Listing Rule 5635(c)(4).
About Intellia Therapeutics
Intellia Therapeutics, Inc. (NASDAQ:NTLA) is a leading clinical-stage gene editing company focused on revolutionizing medicine with CRISPR-based therapies. Since its inception, Intellia has focused on leveraging gene editing technology to develop novel, first-in-class medicines that address important unmet medical needs and advance the treatment paradigm for patients. Intellia’s deep scientific, technical and clinical development experience, along with its people, is helping set the standard for a new class of medicine. To harness the full potential of gene editing, Intellia continues to expand the capabilities of its CRISPR-based platform with novel editing and delivery technologies. Learn more at intelliatx.com and follow us @intelliatx.
Intellia Contacts:
Investors:
Brittany Chaves
Senior Manager, Investor Relations
brittany.chaves@intelliatx.com
This press release was published by a CLEAR® Verified individual.
FAQ
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