Solid Biosciences Reports Inducement Grant to New Chief Legal Officer
Solid Biosciences (Nasdaq: SLDB) announced the grant of an inducement award to its new Chief Legal Officer, Erin Brennan, as approved by independent directors on February 25, 2021.
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Rhea-AI Summary
Solid Biosciences (Nasdaq: SLDB) announced the grant of an inducement award to its new Chief Legal Officer, Erin Brennan, as approved by independent directors on February 25, 2021. The inducement award consists of an option to purchase 325,000 shares of common stock at an exercise price of $8.52 per share, with a ten-year term and vesting in four equal annual installments. This appointment aims to strengthen the company's leadership in developing therapies for Duchenne muscular dystrophy.
Positive
- Appointment of Erin Brennan as Chief Legal Officer is expected to enhance corporate governance.
- Inducement award of 325,000 shares aligns executive interests with shareholder value.
Negative
- None.
Details
News Market Reaction – SLDB
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CAMBRIDGE, Mass., March 04, 2021 (GLOBE NEWSWIRE) -- Solid Biosciences Inc. (Nasdaq: SLDB), a life sciences company focused on advancing meaningful therapies for Duchenne muscular dystrophy (Duchenne), today announced the grant of an inducement award to its newly appointed Chief Legal Officer, Erin Brennan. The grant was approved by a majority of the independent directors of the Company on February 25, 2021 as an inducement material to Ms. Brennan entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).
The inducement grant to Ms. Brennan consisted of an option to purchase up to 325,000 shares of common stock. The option has an exercise price of
About Solid Biosciences
Solid Biosciences is a life sciences company focused on advancing transformative treatments to improve the lives of patients living with Duchenne. Disease-focused and founded by a family directly impacted by Duchenne, our mandate is simple yet comprehensive – work to address the disease at its core by correcting the underlying mutation that causes Duchenne with our lead gene therapy candidate, SGT-001. For more information, please visit www.solidbio.com.
Investor Contact:
David Carey
FINN Partners
212-867-1768
David.Carey@finnpartners.com
Media Contact:
Erich Sandoval
FINN Partners
917-497-2867
Erich.Sandoval@finnpartners.com
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