Intellia Therapeutics Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4)
Rhea-AI Summary
Intellia Therapeutics (NASDAQ:NTLA) has granted inducement awards to ten new employees under its 2024 Inducement Plan. The grants include 73,459 restricted stock units (RSUs) of common stock, which will vest in three equal installments on November 1, 2025, 2026, and 2027. These awards were granted outside the company's stockholder-approved equity incentive plans and were approved by Intellia's compensation committee in accordance with Nasdaq Listing Rule 5635(c)(4).
Positive
- None.
Negative
- Potential shareholder dilution from issuance of 73,459 new shares through RSUs
News Market Reaction
On the day this news was published, NTLA gained 4.08%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
CAMBRIDGE, Mass., Nov. 05, 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 November 1, 2024 it awarded inducement grants to ten 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 73,459 shares of Intellia’s common stock, with one-third of such RSUs vesting on November 1, 2025, 2026, and 2027.
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:
Lina Li
Senior Director, Investor Relations and Corporate Communications
lina.li@intelliatx.com
FAQ
How many RSUs did Intellia Therapeutics (NTLA) grant in its November 2024 inducement awards?
What is the vesting schedule for Intellia Therapeutics' (NTLA) November 2024 inducement RSUs?
Under which plan did Intellia Therapeutics (NTLA) issue its November 2024 inducement grants?
