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

Rhea-AI Summary

Verve Therapeutics (VERV), a clinical-stage biotech company focused on genetic medicines for cardiovascular disease, has granted equity awards to seven new employees under its 2024 Inducement Stock Incentive Plan. The grants include:

- Stock options for 134,860 shares at $5.67 per share, vesting over 4 years with 25% after year one and monthly thereafter

- 65,398 restricted stock units (RSUs) vesting equally over three years starting July 1, 2025

These grants were made as employment inducements in compliance with Nasdaq Listing Rule 5635(c)(4).

BOSTON , May 02, 2025 (GLOBE NEWSWIRE) -- Verve Therapeutics, a clinical-stage company developing a new class of genetic medicines for cardiovascular disease, today announced that on April 30, 2025, the company granted equity awards to seven 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 134,860 shares of the company’s common stock and an aggregate of 65,398 restricted stock units (RSUs). The options have an exercise price of $5.67 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 July 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, triglycerides, 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 awards did Verve Therapeutics (VERV) grant to new employees in April 2025?

Verve granted 134,860 stock options at $5.67 per share and 65,398 RSUs to seven new employees as inducement awards.

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

The stock options vest over 4 years, with 25% vesting after one year and the remainder vesting monthly over the following three years.

How do the RSUs vest in Verve Therapeutics' April 2025 inducement grants?

The RSUs vest in equal annual installments over three years, starting from July 1, 2025.

What was the exercise price for VERV's April 2025 inducement stock options?

The stock options have an exercise price of $5.67 per share, equal to the closing price on the grant date.