Intellia Therapeutics Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Intellia Therapeutics (NASDAQ:NTLA) has announced an inducement grant award to a new employee under its 2024 Inducement Plan. The grant consists of 3,521 restricted stock units (RSUs) of Intellia's common stock, which will vest in three equal installments on December 1 of 2025, 2026, and 2027. The award was granted outside of Intellia's stockholder-approved equity incentive plans and was approved by the company's compensation committee in accordance with Nasdaq Listing Rule 5635(c)(4).

CAMBRIDGE, Mass., Dec. 03, 2024 (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 December 1, 2024, it awarded an inducement grant to one new employee under Intellia’s 2024 Inducement Plan as a material inducement to employment.

The inducement grant consisted of time-based restricted stock units (“RSUs”) for 3,521 shares of Intellia’s common stock, with one-third of such RSUs vesting on December 1, 2025, 2026, and 2027.

All equity vesting is subject to the employee’s continued service as an employee of, or other service provider to, Intellia through the applicable vesting dates.

The above-described award was 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 award was 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:

Lina Li
Senior Director, Investor Relations and Corporate Communications
lina.li@intelliatx.com

FAQ

What type of inducement grant did Intellia Therapeutics (NTLA) award on December 1, 2024?

Intellia Therapeutics awarded 3,521 restricted stock units (RSUs) to one new employee, vesting in three equal installments on December 1 of 2025, 2026, and 2027.

How will the RSUs granted by Intellia Therapeutics (NTLA) vest?

The RSUs will vest in three equal portions, with one-third vesting on December 1 of each year from 2025 to 2027, subject to continued employment.

Under which plan did Intellia Therapeutics (NTLA) issue the December 2024 inducement grant?

The inducement grant was issued under Intellia's 2024 Inducement Plan, which was adopted by the board of directors in June 2024, outside of stockholder-approved equity incentive plans.