Vera Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Vera Therapeutics (NASDAQ: VERA) announced inducement awards granted by its Compensation Committee on February 8, 2025, to seventeen new employees. The awards include non-qualified stock options to purchase 157,750 shares of Class A common stock and restricted stock units (RSUs) for 78,875 shares.

The stock options have an exercise price of $36.14 per share, based on Vera's closing price on February 7, 2025. The options will vest over four years, with 25% vesting after one year and the remainder vesting monthly over 36 months. The RSUs will vest over four years, with 25% vesting annually starting February 20, 2025. Both awards require continued employment with Vera and are subject to the Inducement Plan terms.

Positive

• Expansion of workforce with 17 new employees indicating company growth
• Stock price of $36.14 reflects market confidence

Negative

• Potential dilution of existing shareholders due to new stock options and RSUs issuance

BRISBANE, Calif., Feb. 13, 2025 (GLOBE NEWSWIRE) -- Vera Therapeutics, Inc. (Nasdaq: VERA) today announced that on February 8, 2025, the Compensation Committee granted inducement awards consisting of a non-qualified stock option to purchase 157,750 shares of Class A common stock and restricted stock units (RSUs) for 78,875 shares of Class A common stock to seventeen (17) new employees under the Inducement Plan. The Compensation Committee approved the awards as an inducement material to the new employees’ employment in accordance with Nasdaq Listing Rule 5635(c)(4).

Each stock option granted on February 8, 2025 has an exercise price per share equal to $36.14, Vera’s closing trading price on February 7, 2025. Each stock option will vest over four years, with 25% of the underlying shares vesting on the first anniversary of the applicable vesting commencement date and the balance of the underlying shares vesting monthly thereafter over 36 months, subject to the new employee’s continued service relationship with Vera through the applicable vesting dates. Each of the RSUs will vest over four years, with 25% of the underlying shares vesting on each anniversary of February 20, 2025, subject to the new employee’s continued service relationship with Vera through the applicable vesting dates. The awards are subject to the terms and conditions of the Inducement Plan and the terms and conditions of an applicable award agreement covering the grant.

About Vera
Vera Therapeutics is a late clinical-stage biotechnology company focused on developing treatments for serious immunological diseases. Vera’s mission is to advance treatments that target the source of immunological diseases in order to change the standard of care for patients. Vera’s lead product candidate is atacicept, a fusion protein self-administered as a subcutaneous injection once weekly that blocks both B-cell Activating Factor (BAFF) and A PRoliferation-Inducing Ligand (APRIL), which stimulate B cells and plasma cells to produce autoantibodies contributing to certain autoimmune diseases, including IgAN, also known as Berger’s disease, and lupus nephritis. In addition, Vera is evaluating additional diseases where the reduction of autoantibodies by atacicept may prove medically useful. Vera is also developing MAU868, a monoclonal antibody designed to neutralize infection with BK virus (BKV), a polyomavirus that can have devastating consequences in certain settings such as kidney transplant. Vera retains all global developmental and commercial rights to atacicept and MAU868. For more information, please visit www.veratx.com.

For more information, please contact:

Investor Contact:
Joyce Allaire
LifeSci Advisors
212-915-2569
jallaire@lifesciadvisors.com

Media Contact:
Madelin Hawtin
LifeSci Communications
MHawtin@lifescicomms.com

FAQ

How many shares of Class A common stock were granted in Vera Therapeutics' (VERA) February 2025 inducement awards?

Vera Therapeutics granted options to purchase 157,750 shares of Class A common stock and RSUs for 78,875 shares.

What is the exercise price for VERA's February 2025 stock option grants?

The stock options were granted with an exercise price of $36.14 per share, based on Vera's closing price on February 7, 2025.

What is the vesting schedule for VERA's February 2025 stock options?

The stock options vest over four years, with 25% vesting after the first year and the remaining vesting monthly over 36 months.

How do the RSUs vest in VERA's February 2025 inducement grants?

The RSUs vest over four years, with 25% of the shares vesting on each anniversary of February 20, 2025.

How many employees received VERA's February 2025 inducement awards?

Seventeen new employees received the inducement awards.