Praxis Precision Medicines, Inc. Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Praxis Precision Medicines (NASDAQ:PRAX), a clinical-stage biopharmaceutical company focused on CNS disorders, has granted restricted stock unit (RSU) awards to three new non-executive employees. The awards, totaling 3,875 shares of common stock, were issued under the company's 2024 Inducement Plan on August 1, 2025.

The RSUs will vest over four equal annual installments, contingent on continued employment. These grants were made in accordance with Nasdaq Listing Rule 5635(c)(4) as inducement awards for new hires who were not previously Praxis employees.

BOSTON, Aug. 06, 2025 (GLOBE NEWSWIRE) -- Praxis Precision Medicines, Inc. (Nasdaq: PRAX), a clinical-stage biopharmaceutical company translating genetic insights into the development of therapies for central nervous system (CNS) disorders characterized by neuronal excitation-inhibition imbalance, today announced that on August 1, 2025, the Compensation Committee of Praxis’ Board of Directors granted restricted stock unit awards covering an aggregate of 3,875 shares of its common stock to three new non-executive employees under the Praxis Precision Medicines, Inc. 2024 Inducement Plan (the 2024 Inducement Plan). The restricted stock unit awards were granted as inducements material to the employees’ entering into employment with Praxis in accordance with Nasdaq Listing Rule 5635(c)(4).

The 2024 Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of Praxis, or following a bona fide period of non-employment, as an inducement material to such individuals’ entering into employment with Praxis, pursuant to Nasdaq Listing Rule 5635(c)(4).

The restricted stock units will vest in four equal annual installments, subject to the employee’s continued employment with Praxis on each vesting date.

About Praxis
Praxis Precision Medicines is a clinical-stage biopharmaceutical company translating insights from genetic epilepsies into the development of therapies for CNS disorders characterized by neuronal excitation-inhibition imbalance. Praxis is applying genetic insights to the discovery and development of therapies for rare and more prevalent neurological disorders through our proprietary small molecule platform, Cerebrum™, and antisense oligonucleotide (ASO) platform, Solidus™, using our understanding of shared biological targets and circuits in the brain. Praxis has established a diversified, multimodal CNS portfolio including multiple programs across epilepsy and movement disorders, with four clinical-stage product candidates. For more information, please visit www.praxismedicines.com and follow us on Facebook, LinkedIn and Twitter/X.

Contacts:
Investor Contact:
Praxis Precision Medicines
investors@praxismedicines.com
857-702-9452

Media Contact:
Dan Ferry
Life Science Advisors
Daniel@lifesciadvisors.com
617-430-7576

FAQ

What type of stock awards did Praxis Precision Medicines (PRAX) grant to new employees?

Praxis granted restricted stock unit (RSU) awards covering 3,875 shares of common stock to three new non-executive employees under the 2024 Inducement Plan.

How will the RSU awards vest for new Praxis (PRAX) employees?

The restricted stock units will vest in four equal annual installments, subject to the employee's continued employment with Praxis on each vesting date.

Why did Praxis (PRAX) issue these stock awards?

The awards were granted as inducements material to the employees' entering into employment with Praxis, in accordance with Nasdaq Listing Rule 5635(c)(4).

What is Praxis Precision Medicines' (PRAX) business focus?

Praxis is a clinical-stage biopharmaceutical company developing therapies for central nervous system (CNS) disorders characterized by neuronal excitation-inhibition imbalance.