Translate Bio Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4)
Translate Bio (Nasdaq: TBIO) announced the granting of non-qualified stock options for 300,000 shares to its new President, Dr. Rand Sutherland, on March 22, 2021.
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Rhea-AI Summary
Translate Bio (Nasdaq: TBIO) announced the granting of non-qualified stock options for 300,000 shares to its new President, Dr. Rand Sutherland, on March 22, 2021. The exercise price is set at $16.37 per share, corresponding to the closing price on that date. The options have a ten-year term, vesting over four years with specific conditions for early vesting. This grant is part of the company's 2021 Inducement Stock Incentive Plan and aims to incentivize Dr. Sutherland's employment.
Positive
- Appointment of Dr. Rand Sutherland as President, potentially enhancing leadership.
- Stock options granted may align executive interests with shareholder value.
Negative
- None.
Details
News Market Reaction – TBIO
The recorded move for TBIO in the trading session of this news was -3.21%.
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LEXINGTON, Mass., March 23, 2021 (GLOBE NEWSWIRE) -- Translate Bio (Nasdaq: TBIO), a clinical-stage messenger RNA (mRNA) therapeutics company developing a new class of potentially transformative medicines to treat or prevent debilitating or life-threatening diseases, today reported that on March 22, 2021, the Company granted non-qualified stock options to purchase an aggregate of 300,000 shares of the Company’s common stock to its newly hired President, Dr. Rand Sutherland. This grant was made pursuant to the Company’s 2021 Inducement Stock Incentive Plan, was approved by the Company’s board of directors, and was made as a material inducement to Dr. Sutherland’s acceptance of employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4) as a component of his employment compensation.
The stock options have an exercise price of
About Translate Bio
Translate Bio is a clinical-stage mRNA therapeutics company developing a new class of potentially transformative medicines to treat diseases caused by protein or gene dysfunction, or to prevent infectious diseases by generating protective immunity. Translate Bio is primarily focused on applying its technology to treat pulmonary diseases with a lead pulmonary candidate being evaluated as an inhaled treatment for cystic fibrosis (CF) in a Phase 1/2 clinical trial. Additional pulmonary diseases are being evaluated in discovery-stage research programs that utilize a proprietary lung delivery platform. Translate Bio also believes its technology may apply broadly to a wide range of diseases, including diseases that affect the liver. Additionally, the platform may be applied to various classes of treatments, such as therapeutic antibodies or protein degradation. Translate Bio is also pursuing the development of mRNA vaccines for infectious diseases under a collaboration with Sanofi Pasteur. For more information about the Company, please visit www.translate.bio or on Twitter at @TranslateBio.
| Investor Relations | Media Relations |
| Teri Dahlman | Maura Gavaghan |
| Tel.: +1 (617) 817-8655 | Tel: +1 (617) 233-1154 |
| tdahlman@translate.bio | mgavaghan@translate.bio |
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