Travere Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Travere Therapeutics (NASDAQ: TVTX) announced on September 10, 2021, the grant of inducement equity grants totaling 48,100 shares of common stock to five new employees.
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Rhea-AI Summary
Travere Therapeutics (NASDAQ: TVTX) announced on September 10, 2021, the grant of inducement equity grants totaling 48,100 shares of common stock to five new employees. This includes stock options for 40,500 shares and restricted stock units (RSUs) for 7,600 shares, all under the 2018 Equity Incentive Plan. The options have an exercise price of $23.55 per share and vest over four years, while the RSUs also vest over the same period. The granting was made to incentivize new hires in compliance with Nasdaq Listing Rule 5635(c)(4).
Positive
- Granting of 48,100 shares could enhance employee retention and motivation.
- Inducement equity grants align new employees' interests with company performance.
Negative
- The necessity of inducement grants may indicate challenges in attracting talent.
Details
News Market Reaction – TVTX
The recorded move for TVTX in the trading session of this news was -1.21%.
Data tracked by StockTitan Argus. Session date unavailable.
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SAN DIEGO, Sept. 13, 2021 (GLOBE NEWSWIRE) -- Travere Therapeutics, Inc. (NASDAQ: TVTX) today announced that on September 10, 2021, the Compensation Committee of its Board of Directors granted inducement equity grants covering an aggregate of 48,100 shares of its common stock to five new employees, consisting of inducement stock options to purchase an aggregate of 40,500 shares of common stock and inducement restricted stock units, or RSUs, covering an aggregate of 7,600 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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