Replimune Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Rhea-AI Summary
Replimune Group (NASDAQ: REPL) has granted inducement equity awards to 30 newly hired non-executive employees. The awards include non-qualified stock options to purchase 95,250 shares and restricted stock units (RSUs) for 158,570 shares. The December stock options have an exercise price of $13.05 per share, while January options are priced at $12.02 per share.
The stock options have a 10-year term with a four-year vesting schedule: 25% vests after one year, with the remainder vesting monthly over three years. RSUs vest in approximately four equal annual installments, beginning November 15, 2025 for December grants and February 15, 2026 for January grants. These inducement awards were approved under Nasdaq Listing Rule 5635(c)(4) and align with the terms of the company's 2018 Equity Incentive Plan.
Positive
- Successful recruitment of 30 new employees indicating company expansion
- Structured equity compensation plan to retain talent over long-term (4-year vesting)
Negative
- Potential dilution of existing shareholders through issuance of 253,820 new shares
News Market Reaction – REPL
On the day this news was published, REPL declined 1.54%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
WOBURN, Mass., Jan. 10, 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 recently granted equity awards to 30 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 95,250 shares of the Company's common stock and restricted stock units representing an aggregate of 158,570 shares of the Company's common stock.
The non-qualified stock options consist of grants in December having an exercise price of
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
How many shares are included in REPL's January 2025 inducement grants?
What is the exercise price for REPL's January 2025 stock options?
What is the vesting schedule for REPL's 2025 inducement RSUs?
How many new employees received REPL's inducement grants in 2025?
What is the vesting period for REPL's 2025 stock option grants?
