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

Rhea-AI Summary

Replimune Group (NASDAQ: REPL), a clinical stage biotech company focused on oncolytic immunotherapies, has granted inducement equity awards to 10 new non-executive employees. The awards include non-qualified stock options to purchase 36,485 shares at $9.75 per share and restricted stock units for 41,080 shares. The stock options have a 10-year term with 25% vesting after one year and the remainder vesting monthly over three years. The restricted stock units will vest in four annual installments starting May 15, 2026. These awards were granted under the 2025 Inducement Plan and approved by the compensation committee under Nasdaq Listing Rule 5635(c)(4).

Positive

• Attraction of new talent with equity incentives indicates company growth and expansion
• Long-term vesting schedule helps retain employees and align interests with shareholders

Negative

• Potential dilution of existing shareholders from new equity issuance

WOBURN, Mass., June 06, 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 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 36,485 shares of the Company's common stock and restricted stock units representing an aggregate of 41,080 shares of the Company's common stock. Each option has an exercise price of $9.75 per share, which is equal to the closing price of the Company's common stock on June 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 type of equity awards did Replimune (REPL) grant to new employees in June 2025?

Replimune granted non-qualified stock options for 36,485 shares at $9.75 per share and restricted stock units for 41,080 shares to 10 new non-executive employees.

What is the vesting schedule for Replimune's (REPL) June 2025 inducement awards?

The stock options vest 25% after one year and the remainder monthly over three years. The restricted stock units vest in four annual installments starting May 15, 2026.

How many new employees received inducement grants from Replimune (REPL) in June 2025?

Replimune granted inducement equity awards to 10 new non-executive employees.

What is the exercise price of the stock options granted by Replimune (REPL) in June 2025?

The stock options have an exercise price of $9.75 per share, equal to the closing price on June 5, 2025.