Travere Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Travere Therapeutics (NASDAQ: TVTX) announced the granting of inducement equity grants totaling 71,350 shares to five new employees on December 10, 2021.
Sentiment and the balance of points
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Rhea-AI Summary
Travere Therapeutics (NASDAQ: TVTX) announced the granting of inducement equity grants totaling 71,350 shares to five new employees on December 10, 2021. This includes stock options for 58,500 shares and restricted stock units (RSUs) for 12,850 shares, granted outside the 2018 Equity Incentive Plan. The stock options have an exercise price of $26.76, vesting over four years, while RSUs also vest over four years, contingent on continued employment. These grants are part of the company’s strategy to attract talent within the biopharmaceutical sector.
Positive
- Inducement equity grants of 71,350 shares signal strong hiring and retention strategy.
- Stock options have a favorable exercise price of $26.76 per share, aligning employee interests with company performance.
Negative
- None.
Details
News Market Reaction – TVTX
The recorded move for TVTX in the trading session of this news was +10.63%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
SAN DIEGO, Dec. 14, 2021 (GLOBE NEWSWIRE) -- Travere Therapeutics, Inc. (NASDAQ: TVTX) today announced that on December 10, 2021, the Compensation Committee of its Board of Directors granted inducement equity grants covering an aggregate of 71,350 shares of its common stock to five new employees, consisting of inducement stock options to purchase an aggregate of 58,500 shares of common stock and inducement restricted stock units, or RSUs, covering an aggregate of 12,850 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:
Chris Cline, CFA
Senior Vice President, Investor Relations & Corporate Communications
888-969-7879
IR@travere.com
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