Intellia Therapeutics Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4)
Intellia Therapeutics (NASDAQ:NTLA) has granted inducement awards to three new employees under its 2024 Inducement Plan.
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Rhea-AI Summary
Intellia Therapeutics (NASDAQ:NTLA) has granted inducement awards to three new employees under its 2024 Inducement Plan. The grants consist of time-based restricted stock units (RSUs) for 23,155 shares of common stock, which will vest in three equal installments on January 1 of 2026, 2027, and 2028. The vesting is contingent upon continued employment with Intellia.
These awards were granted outside of Intellia's stockholder-approved equity incentive plans through the 2024 Inducement Plan, which was adopted by the board in June 2024. The compensation committee approved these grants as material inducement for employment in compliance with Nasdaq Listing Rule 5635(c)(4).
Positive
- Company demonstrates ability to attract new talent with equity compensation
- Structured vesting schedule over three years promotes employee retention
Negative
- Potential dilution of existing shareholders through new stock issuance
Details
News Market Reaction – NTLA
The recorded move for NTLA in the trading session of this news was +5.52%.
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CAMBRIDGE, Mass, Jan. 06, 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 January 1, 2025, it awarded inducement grants to three new employees under Intellia’s 2024 Inducement Plan as a material inducement to employment.
The inducement grants consisted of time-based restricted stock units (“RSUs”) for 23,155 shares of Intellia’s common stock, with one-third of such RSUs vesting on January 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. The 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. The company’s in vivo programs use CRISPR to enable precise editing of disease-causing genes directly inside the human body. Intellia’s ex vivo programs use CRISPR to engineer human cells outside the body for the treatment of cancer and autoimmune diseases. 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
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