Rapid Micro Biosystems Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Rapid Micro Biosystems (NASDAQ: RPID) has announced new equity grants as inducement awards to three new employees. The grants include:

- 50,000 restricted stock units (RSUs) granted on March 3, 2025

- 250,000 non-qualified stock options and 174,000 RSUs granted on March 10, 2025

The stock options have an exercise price of $2.27 per share. The vesting schedule includes:

• Options: 25% vest after one year, followed by 1/48th monthly
• RSUs: One-third vests annually over three years

All grants were made under the Company's Inducement Plan and approved in accordance with Nasdaq Listing Rule 5635(c)(4), specifically for new employees who were not previously employed by the company.

LEXINGTON, Mass., March 12, 2025 (GLOBE NEWSWIRE) -- Rapid Micro Biosystems, Inc. (Nasdaq: RPID) (the “Company”), an innovative life sciences technology company providing mission critical automation solutions to facilitate the efficient manufacturing and fast, safe release of healthcare products, today announced the grants (i) on March 3, 2025, of 50,000 restricted stock units (“RSUs”) of the Company’s Class A common stock (“Common Stock”) as a material inducement to employment of one new employee and (ii) on March 10, 2025, of non-qualified stock options to purchase an aggregate of 250,000 shares of Common Stock (the “Options”) and 174,000 RSUs as a material inducement to employment to two new employees. All such equity awards were made under the Company’s Inducement Plan, as amended (the “Inducement Plan”) and were approved by a majority of the independent directors of the Board of Directors or a duly authorized committee thereof in accordance with Nasdaq Listing Rule 5635(c)(4). The equity awards are subject to the terms and conditions of the Inducement Plan, and the terms and conditions of the applicable stock option and RSU award agreements covering the grants.

The Options have an exercise price of $2.27 per share, which is equal to the closing price of Common Stock on their grant date. Twenty-five percent (25%) of Options will vest and become exercisable on the first anniversary of their grant date, and 1/48th of Options will vest and become exercisable each month thereafter, in each case, subject to such employee's continued employment on each vesting date.

The RSUs will vest annually over a three-year period, with one-third of the RSUs vesting on each anniversary of their respective grant dates, subject to such employee's continued employment on each vesting date.

The Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously an employee of the Company, or following a bona fide period of non-employment, as an inducement material to such individual's entering into employment with the Company, pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules.

About Rapid Micro Biosystems

Rapid Micro Biosystems is an innovative life sciences technology company providing mission critical automation solutions to facilitate the efficient manufacturing and fast, safe release of healthcare products such as biologics, vaccines, cell and gene therapies, and sterile injectables. The Company’s flagship Growth Direct system automates and modernizes the antiquated, manual microbial quality control (“MQC”) testing workflows used in the largest and most complex pharmaceutical manufacturing operations across the globe. The Growth Direct system brings the quality control lab to the manufacturing floor, unlocking the power of MQC automation to deliver the faster results, greater accuracy, increased operational efficiency, better compliance with data integrity regulations, and quicker decision making that customers rely on to ensure safe and consistent supply of important healthcare products. The Company is headquartered Lexington, Massachusetts and has U.S. manufacturing in Lowell, Massachusetts, with global locations in Switzerland, Germany, and the Netherlands. For more information, please visit www.rapidmicrobio.com or follow the Company on X (formerly known as Twitter) at @rapidmicrobio or on LinkedIn. 

Investor Contact:
Michael Beaulieu, CFA
Vice President, Investor Relations and Corporate Communications
mbeaulieu@rapidmicrobio.com

Media Contact:
media@rapidmicrobio.com

FAQ

What are the terms of RPID's new stock options granted in March 2025?

The stock options have an exercise price of $2.27 per share, with 25% vesting after one year and 1/48th vesting monthly thereafter, subject to continued employment.

How many RSUs did Rapid Micro Biosystems (RPID) grant in March 2025?

RPID granted a total of 224,000 RSUs - 50,000 on March 3 and 174,000 on March 10, 2025.

What is the vesting schedule for RPID's March 2025 RSU grants?

The RSUs vest annually over three years, with one-third vesting on each anniversary of the grant date.

Why did Rapid Micro Biosystems (RPID) issue these equity grants in March 2025?

The grants were made as material inducement awards to three new employees joining the company, in accordance with Nasdaq Rule 5635(c)(4).