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 6,238 restricted stock units to eight new non-executive employees under its 2024 Inducement Plan. The grants, approved by the Compensation Committee on September 2, 2025, were made in accordance with Nasdaq Listing Rule 5635(c)(4).

The restricted stock units will vest over four equal annual installments, contingent upon continued employment. These equity awards are specifically designed for new hires who were not previously Praxis employees, serving as employment inducements.

BOSTON, Sept. 03, 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 September 2, 2025, the Compensation Committee of Praxis’ Board of Directors granted restricted stock unit awards covering an aggregate of 6,238 shares of its common stock to eight 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 equity awards did Praxis Precision Medicines (PRAX) grant to new employees?

Praxis granted 6,238 restricted stock units to eight new non-executive employees under the 2024 Inducement Plan.

How will the PRAX restricted stock units vest for new employees?

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

Why did Praxis Precision Medicines issue these stock grants?

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

What is Praxis Precision Medicines' main business focus?

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