Vor Bio Report Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Vor Bio (Nasdaq: VOR), a clinical-stage biotechnology company focused on autoimmune disease treatments, has granted its new Chief Executive Officer Jean-Paul Kress a significant stock option award. The inducement grant, approved on June 26, 2025, includes options to purchase 83,296,638 shares of common stock at an exercise price of $0.89 per share.

The stock option, granted under the Vor Biopharma Inc. 2023 Inducement Plan, has a ten-year term and follows a four-year vesting schedule. The vesting includes a 25% cliff after the first year, followed by monthly vesting over the subsequent 36 months, contingent on Dr. Kress's continued employment.

Positive

• None.

Negative

• Significant potential dilution with 83,296,638 shares in options granted
• Low share price of $0.89 suggests challenging market conditions

CAMBRIDGE, Mass., July 01, 2025 (GLOBE NEWSWIRE) -- Vor Bio (Nasdaq: VOR), a clinical-stage biotechnology company transforming the treatment of autoimmune diseases, today announced that, effective as of June 26, 2025, the Board of Directors granted Jean-Paul Kress, the Company’s Chief Executive Officer, an option to purchase 83,296,638 shares of Vor Bio’s common stock in connection with the commencement of his employment. The foregoing stock option was granted as a material inducement to employment with Vor Bio in accordance with Nasdaq Listing Rule 5635(c)(4) and was granted under the Vor Biopharma Inc. 2023 Inducement Plan (the “Inducement Plan”).

The stock option has a ten-year term and an exercise price of $0.89 per share, which is equal to the closing price of Vor Bio’s common stock on June 26, 2025. The option will vest over a four-year period, with 25% of the shares vesting after 12 months and the remaining shares vesting monthly over the following 36 months, subject to Dr. Kress’s continued employment with Vor Bio on such vesting dates. The option is subject to the terms and conditions of the Inducement Plan and the terms and conditions of an award agreement covering the grant.

About Vor Bio

Vor Bio is a clinical-stage biotechnology company transforming the treatment of autoimmune diseases. The company is focused on rapidly advancing telitacicept, a novel dual-target fusion protein, through Phase 3 clinical development and commercialization to address serious autoantibody-driven conditions worldwide. For more information visit www.vorbio.com

Contact:

Investors & Media
Sarah Spencer
+1 857-242-6076
sspencer@vorbio.com

FAQ

How many stock options were granted to Vor Bio's new CEO?

Vor Bio granted CEO Jean-Paul Kress options to purchase 83,296,638 shares at an exercise price of $0.89 per share.

What is the vesting schedule for VOR CEO's stock options?

The options vest over 4 years, with 25% vesting after 12 months and the remaining shares vesting monthly over the following 36 months.

When was Jean-Paul Kress appointed as Vor Bio's CEO?

The stock options were granted effective June 26, 2025 in connection with the commencement of his employment as CEO.

What is the exercise price of VOR's CEO inducement grant?

The exercise price is $0.89 per share, equal to Vor Bio's closing stock price on June 26, 2025.

How long do the VOR CEO stock options last?

The stock options have a ten-year term from the grant date.