Replimune Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Replimune Group (NASDAQ: REPL), a clinical stage biotechnology company focused on oncolytic immunotherapies, has granted inducement equity awards to 18 new non-executive employees. The awards include:

- Non-qualified stock options to purchase 21,960 shares with an exercise price of $10.01 per share - Restricted stock units representing 44,005 shares

The stock options have a 10-year term with 25% vesting after one year and the remainder vesting monthly over three years. The RSUs will vest in four annual installments starting May 15, 2026. These awards were granted under the company's 2025 Inducement Plan and approved by the compensation committee under Nasdaq Rule 5635(c)(4).

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WOBURN, Mass., May 09, 2025 (GLOBE NEWSWIRE) -- Replimune Group, Inc. (NASDAQ: REPL), a clinical stage biotechnology company pioneering the development of novel oncolytic immunotherapies, today announced the grant of inducement equity awards to newly hired non-executive employees.

The Company granted equity awards to 18 employees as a material inducement to commencing their employment with the Company under the Company’s 2025 Inducement Grant Incentive Compensation Plan (the “Inducement Plan”). The inducement awards consist of non-qualified stock options to purchase an aggregate of 21,960 shares of the Company's common stock and restricted stock units representing an aggregate of 44,005 shares of the Company's common stock. Each option has an exercise price of $10.01 per share, which is equal to the closing price of the Company's common stock on May 5, 2025 (the “Date of Grant”). Each option has a 10-year term and will vest over four years, with 25% of the underlying shares vesting on the one-year anniversary of the Date of Grant, and the remainder vesting in monthly installments for three years thereafter. The restricted stock units vest in approximately four equal annual installments beginning on May 15, 2026. 

The aforementioned inducement awards were approved by the compensation committee of the Company's board of directors in reliance on the employment inducement exception under Nasdaq Listing Rule 5635(c)(4). The inducement awards are subject to the terms and conditions set forth under the Inducement Plan.

About Replimune
Replimune Group, Inc., headquartered in Woburn, MA, was founded in 2015 with the mission to transform cancer treatment by pioneering the development of novel oncolytic immunotherapies. Replimune’s proprietary RPx platform is based on a potent HSV-1 backbone intended to maximize immunogenic cell death and the induction of a systemic anti-tumor immune response. The RPx platform is designed to have a unique dual local and systemic activity consisting of direct selective virus-mediated killing of the tumor resulting in the release of tumor derived antigens and altering of the tumor microenvironment to ignite a strong and durable systemic response. The RPx product candidates are expected to be synergistic with most established and experimental cancer treatment modalities, leading to the versatility to be developed alone or combined with a variety of other treatment options. For more information, please visit www.replimune.com.

Investor Inquiries
Chris Brinzey
ICR Westwicke
339.970.2843
chris.brinzey@westwicke.com

Media Inquiries
Arleen Goldenberg
Replimune
917.548.1582
media@replimune.com

FAQ

What equity awards did Replimune (REPL) grant to new employees in May 2025?

Replimune granted 21,960 stock options at $10.01 per share and 44,005 restricted stock units to 18 new non-executive employees.

What is the vesting schedule for REPL's May 2025 inducement stock options?

The stock options vest over 4 years, with 25% vesting after one year and the remainder vesting monthly over the following three years.

When do Replimune's May 2025 inducement RSUs begin vesting?

The restricted stock units begin vesting on May 15, 2026, in approximately four equal annual installments.

Under what Nasdaq rule were Replimune's May 2025 inducement grants approved?

The inducement awards were approved under Nasdaq Listing Rule 5635(c)(4), which provides an employment inducement exception.