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

Rhea-AI Summary

Replimune (NASDAQ: REPL), a clinical stage biotechnology company focused on oncolytic immunotherapies, has granted inducement equity awards to 16 new non-executive employees. The awards include 32,135 non-qualified stock options at an exercise price of $9.65 per share and 64,320 restricted stock units (RSUs).

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

Positive

• Successful recruitment of 16 new employees indicating company growth
• Structured equity compensation plan to retain talent

Negative

• Potential dilution from new equity awards totaling 96,455 shares

WOBURN, Mass., July 11, 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 16 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 32,135 shares of the Company's common stock and restricted stock units representing an aggregate of 64,320 shares of the Company's common stock. Each option has an exercise price of $9.65 per share, which is equal to the closing price of the Company's common stock on July 7, 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 August 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

How many shares were granted in Replimune's (REPL) July 2025 inducement awards?

Replimune granted a total of 96,455 shares, consisting of 32,135 stock options and 64,320 restricted stock units (RSUs).

What is the exercise price for REPL's July 2025 inducement stock options?

The stock options have an exercise price of $9.65 per share, equal to the closing price on July 7, 2025.

What is the vesting schedule for Replimune's 2025 inducement RSUs?

The RSUs will vest in approximately four equal annual installments beginning on August 15, 2026.

How long is the vesting period for REPL's July 2025 inducement stock options?

The options have a 4-year vesting period, with 25% vesting after one year and the remainder vesting monthly over three years.

How many new employees received Replimune's July 2025 inducement awards?

16 new non-executive employees received inducement equity awards.