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 10 newly hired non-executive employees. The compensation package includes:

• 11,085 non-qualified stock options with an exercise price of $12.29 per share (closing price on March 5, 2025)
• 22,225 restricted stock units

The stock options have a 10-year term with a 4-year vesting schedule: 25% vesting after one year, followed by monthly installments over three years. The restricted stock units vest in four approximately equal annual installments starting February 15, 2026. These inducement awards, approved under Nasdaq Listing Rule 5635(c)(4), align with the terms of the Company's 2018 Equity Incentive Plan.

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WOBURN, Mass., March 07, 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 10 employees as a material inducement to commencing their employment with the Company. The inducement awards consist of non-qualified stock options to purchase an aggregate of 11,085 shares of the Company's common stock and restricted stock units representing an aggregate of 22,225 shares of the Company's common stock. Each option has an exercise price of $12.29 per share, which is equal to the closing price of the Company's common stock on March 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 February 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). While the inducement awards were granted outside of the Company’s 2018 Equity Incentive Plan, the awards will have terms and conditions consistent with those set forth under such 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 March 2025?

Replimune granted 11,085 stock options at $12.29 per share and 22,225 restricted stock units to 10 new non-executive employees.

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

The options vest over 4 years: 25% after one year, with remaining shares vesting monthly over three years.

When do the restricted stock units (RSUs) granted by Replimune in March 2025 vest?

The RSUs vest in approximately four equal annual installments beginning February 15, 2026.

What was the exercise price for Replimune's March 2025 inducement stock options?

The exercise price was $12.29 per share, equal to REPL's closing price on March 5, 2025.