Solid Biosciences Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
Rhea-AI Summary
Solid Biosciences Inc. (Nasdaq: SLDB), a life sciences company focused on precision genetic medicines for neuromuscular and cardiac diseases, has announced equity grants to newly hired employees. The company granted 86,665 restricted stock units (RSUs) to four new hires, vesting in four equal annual installments. Additionally, one employee received an option to purchase 100,000 shares of common stock at $8.64 per share, vesting over four years. These grants were made under the company's 2024 Inducement Stock Incentive Plan in accordance with Nasdaq Listing Rule 5635(c)(4), serving as inducements for employment.
Positive
- Attraction of new talent with equity incentives
- Implementation of long-term employee retention strategy through 4-year vesting periods
Negative
- Potential dilution of existing shareholders' equity due to new stock grants
News Market Reaction
On the day this news was published, SLDB declined 1.27%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
CHARLESTOWN, Mass., Aug. 05, 2024 (GLOBE NEWSWIRE) -- Solid Biosciences Inc. (Nasdaq: SLDB) (the “Company”), a life sciences company developing precision genetic medicines for neuromuscular and cardiac diseases, today announced grants of 86,665 restricted stock units (“RSUs”) to four newly hired employees.
The RSUs vest in four equal installments on each one-year anniversary of the grant date until the fourth anniversary of the grant date. Vesting of the equity awards is subject to the applicable employee’s continued service with the Company through each applicable vesting date.
One newly hired employee also received an option to purchase up to 100,000 shares of the Company’s common stock. The option has a ten-year term and an exercise price of
These grants were made pursuant to the Company’s 2024 Inducement Stock Incentive Plan and were made as an inducement material to each employee’s acceptance of employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).
About Solid Biosciences
Solid Biosciences is a life sciences company focused on advancing a portfolio of gene therapy candidates including SGT-003 for the treatment of Duchenne muscular dystrophy (Duchenne), SGT-501 for the treatment of catecholaminergic polymorphic ventricular tachycardia (CPVT), AVB-401 for the treatment of BAG3-mediated dilated cardiomyopathy, and additional assets for the treatment of fatal cardiac diseases. Solid is advancing its diverse pipeline across rare neuromuscular and cardiac diseases, bringing together experts in science, technology, disease management, and care. Patient-focused and founded by those directly impacted, Solid’s mandate is to improve the daily lives of patients living with these devastating diseases. For more information, please visit www.solidbio.com.
Solid Biosciences Investor Contact:
Nicole Anderson
Director, Investor Relations and Corporate Communications
Solid Biosciences Inc.
investors@solidbio.com
Media Contact:
Glenn Silver
FINN Partners
glenn.silver@finnpartners.com
FAQ
How many restricted stock units (RSUs) did Solid Biosciences (SLDB) grant to new employees?
What is the vesting schedule for the RSUs granted by Solid Biosciences (SLDB)?
What stock option was granted to one newly hired employee of Solid Biosciences (SLDB)?
Under which plan were these equity grants made by Solid Biosciences (SLDB)?
