Verve Therapeutics Announces Inducement Grants under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Verve Therapeutics, a clinical-stage cardiovascular genetic medicine company, has granted equity awards to four new employees on February 28, 2025. The compensation package includes:

• 14,300 stock options with an exercise price of $6.33 per share (matching closing price)
• 20,100 restricted stock units (RSUs)

The stock options have a 10-year term with a 4-year vesting schedule: 25% vests after one year, with remaining shares vesting monthly over three years. RSUs will vest equally over three years starting April 1, 2025. These grants were made under the company's 2024 Inducement Stock Incentive Plan, complying with Nasdaq Listing Rule 5635(c)(4).

BOSTON, March 03, 2025 (GLOBE NEWSWIRE) -- Verve Therapeutics, a clinical-stage company developing a new class of genetic medicines for cardiovascular disease, today announced that on February 28, 2025, the company granted equity awards to four new employees, pursuant to the company’s 2024 Inducement Stock Incentive Plan, as an inducement material to each new employee entering into employment with the company in accordance with Nasdaq Listing Rule 5635(c)(4).

The employees received stock options to purchase an aggregate of 14,300 shares of the company’s common stock and an aggregate of 20,100 restricted stock units (RSUs). The options have an exercise price of $6.33 per share, which is equal to the closing price of the company’s common stock on the date of grant. Each option has a 10-year term and will vest over a period of four years, with 25% of the shares vesting on the one-year anniversary of the grant date and the remainder vesting in equal monthly installments over the following three years, subject to each such employee’s continued service with the company on each such vesting date. The RSUs will vest in equal annual installments on the first three anniversaries of April 1, 2025, subject to each such employee’s continued service with the company on each such vesting date.

About Verve Therapeutics 
Verve Therapeutics, Inc. (Nasdaq: VERV) is a clinical-stage company developing a new class of genetic medicines for cardiovascular disease with the potential to transform treatment from chronic therapies to single-course gene editing medicines. The company’s lead programs –VERVE-102, VERVE-201, and VERVE-301 – target the three cholesterol drivers of atherosclerosis: LDL-C, remnant cholesterol, and Lp(a). VERVE-102 is designed to permanently turn off the PCSK9 gene in the liver and is being developed initially for heterozygous familial hypercholesterolemia (HeFH) and ultimately to treat patients with established atherosclerotic cardiovascular disease (ASCVD) who continue to be impacted by high LDL-C levels. VERVE-201 is designed to permanently turn off the ANGPTL3 gene in the liver and is initially being developed for refractory hypercholesterolemia, where patients still have high LDL-C despite treatment with maximally tolerated standard of care therapies, and homozygous familial hypercholesterolemia (HoFH). VERVE-301 is designed to permanently turn off the LPA gene to reduce Lp(a) levels. Lp(a) is a genetically validated, independent risk factor for ASCVD, ischemic stroke, thrombosis, and aortic stenosis. For more information, please visit www.VerveTx.com.

Investor Contact
Jen Robinson
Verve Therapeutics, Inc.
jrobinson@vervetx.com

Media Contact
Ashlea Kosikowski
1AB
ashlea@1abmedia.com

FAQ

What equity compensation did Verve Therapeutics (VERV) grant to new employees in February 2025?

VERV granted 14,300 stock options at $6.33 per share and 20,100 RSUs to four new employees on February 28, 2025.

What is the vesting schedule for VERV's February 2025 stock option grants?

The options vest over 4 years: 25% after year one, with remaining shares vesting monthly over three years.

How will the RSUs vest in Verve Therapeutics' February 2025 equity grants?

The RSUs will vest in equal annual installments over three years, starting April 1, 2025.

What was the exercise price for VERV's February 2025 stock option grants?

The stock options were granted with an exercise price of $6.33 per share, equal to the closing price on the grant date.