Travere Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Rhea-AI Summary
Travere Therapeutics (NASDAQ: TVTX) has announced the granting of inducement equity awards to five new employees on March 10, 2025. The compensation package includes:
- 36,000 shares in stock options with an exercise price of $17.87 per share
- 41,200 restricted stock units (RSUs)
The stock options are non-qualified, have a 10-year term, and vest over four years with 25% vesting after one year and the remaining 75% vesting monthly over 36 months. The RSUs vest over four years, with 25% vesting annually. These grants were made outside the company's 2018 Equity Incentive Plan but are subject to its terms, awarded as employment inducements under Nasdaq Listing Rule 5635(c)(4).
Positive
- Company demonstrates ability to attract new talent with competitive equity compensation packages
- Stock options granted at current market price ($17.87) showing confidence in fair valuation
Negative
- Potential dilution of existing shareholders from additional 77,200 shares
- Increased stock-based compensation expense over the next 4 years
News Market Reaction
On the day this news was published, TVTX declined 0.73%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
SAN DIEGO, March 12, 2025 (GLOBE NEWSWIRE) -- Travere Therapeutics, Inc. (NASDAQ: TVTX) today announced that on March 10, 2025, the Compensation Committee of its Board of Directors granted inducement equity grants covering an aggregate of 77,200 shares of its common stock to five new employees, consisting of inducement stock options to purchase an aggregate of 36,000 shares of common stock and inducement restricted stock units, or RSUs, covering an aggregate of 41,200 shares of its common stock. These inducement stock options and 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 stock options have an exercise price of
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.
Contact Info
| Media: 888-969-7879 mediarelations@travere.com | Investors: 888-969-7879 IR@travere.com |
FAQ
What is the vesting schedule for TVTX's new employee stock options granted in March 2025?
How many shares were included in Travere Therapeutics' March 2025 inducement grants?
What is the exercise price for TVTX's March 2025 inducement stock options?
How do the RSUs vest in Travere's March 2025 inducement grants?
