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

Rhea-AI Summary

Verve Therapeutics grants equity awards to new employees under the 2024 Inducement Stock Incentive Plan, with 16,300 RSUs vested over four years.

BOSTON, March 01, 2024 (GLOBE NEWSWIRE) -- Verve Therapeutics, a clinical-stage biotechnology company pioneering a new approach to the care of cardiovascular disease with single-course gene editing medicines, today announced that on February 29, 2024, the company granted equity awards to three 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 an aggregate of 16,300 restricted stock units (RSUs). The RSUs will vest in equal annual installments on the first four anniversaries of April 1, 2024, 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 genetic medicines company pioneering a new approach to the care of cardiovascular disease, potentially transforming treatment from chronic management to single-course gene editing medicines. The company’s lead programs – VERVE-101, VERVE-102, and VERVE-201 – target genes that have been extensively validated as targets for lowering low-density lipoprotein cholesterol (LDL-C), a root cause of atherosclerotic cardiovascular disease (ASCVD). VERVE-101 and VERVE-102 are designed to permanently turn off the PCSK9 gene in the liver and are being developed initially for heterozygous familial hypercholesterolemia (HeFH) and ultimately to treat patients with established 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 homozygous familial hypercholesterolemia (HoFH) and for refractory hypercholesterolemia where patients still have high LDL-C despite treatment with maximally-tolerated standard of care therapies. 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

What did Verve Therapeutics announce regarding equity awards?

Verve Therapeutics announced that they granted equity awards to three new employees under the 2024 Inducement Stock Incentive Plan.

How many restricted stock units (RSUs) did the employees receive?

The employees received an aggregate of 16,300 restricted stock units (RSUs).

When will the RSUs vest?

The RSUs will vest in equal annual installments on the first four anniversaries of April 1, 2024.

What is the condition for the RSUs to vest?

The RSUs will vest subject to each employee's continued service with the company on each vesting date.