Travere Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Travere Therapeutics (NASDAQ: TVTX) announced on February 10, 2023, that its Compensation Committee granted inducement equity grants to six new employees, totaling 17,700 restricted stock units (RSUs).
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Rhea-AI Summary
Travere Therapeutics (NASDAQ: TVTX) announced on February 10, 2023, that its Compensation Committee granted inducement equity grants to six new employees, totaling 17,700 restricted stock units (RSUs). These RSUs, part of Travere's 2018 Equity Incentive Plan, were awarded outside the plan as an inducement for the new hires, as per Nasdaq Listing Rule 5635(c)(4). The RSUs will vest over four years, with 25% vesting annually, contingent on the employees’ continued service with the company.
Positive
- Inducement equity grants of 17,700 RSUs provided to six new employees, enhancing talent acquisition.
Negative
- None.
Details
News Market Reaction – TVTX
The recorded move for TVTX in the trading session of this news was -3.87%.
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AI-generated analysis. How Rhea-AI works. Not financial advice.
SAN DIEGO, Feb. 13, 2023 (GLOBE NEWSWIRE) -- Travere Therapeutics, Inc. (NASDAQ: TVTX) today announced that on February 10, 2023, the Compensation Committee of its Board of Directors granted inducement equity grants to six new employees, consisting of inducement restricted stock units, or RSUs, covering an aggregate of 17,700 shares of its common stock. These inducement RSUs are subject to the terms of Travere’s 2018 Equity Incentive Plan (“2018 Plan”) but were granted outside of the 2018 Plan and were granted as inducements material to the new employees entering into employment with Travere in accordance with Nasdaq Listing Rule 5635(c)(4).
The RSUs vest over four years, with
About Travere Therapeutics
At Travere Therapeutics, we are in rare for life. We are a biopharmaceutical company that comes together every day to help patients, families and caregivers of all backgrounds as they navigate life with a rare disease. On this path, we know the need for treatment options is urgent – that is why our global team works with the rare disease community to identify, develop and deliver life-changing therapies. In pursuit of this mission, we continuously seek to understand the diverse perspectives of rare patients and to courageously forge new paths to make a difference in their lives and provide hope – today and tomorrow. For more information, visit travere.com
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