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

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Vor Bio (Nasdaq: VOR) granted stock options and RSUs to two new employees as inducements for employment. The options have a ten-year term with an exercise price of $2.27 per share, vesting over four years, while the RSUs also vest over four years.
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CAMBRIDGE, Mass., March 05, 2024 (GLOBE NEWSWIRE) -- Vor Bio (Nasdaq: VOR), a clinical-stage cell and genome engineering company, today announced that, effective as of March 1, 2024, the Compensation Committee of the Board of Directors granted stock options to purchase an aggregate of 4,250 shares of Vor Bio’s common stock and restricted stock units (“RSUs”) representing the right to receive an aggregate of 6,375 shares of Vor Bio’s common stock to two newly hired employees. The foregoing stock options and RSUs were granted as material inducements to employment with Vor Bio in accordance with Nasdaq Listing Rule 5635(c)(4) and were granted under the Vor Biopharma Inc. 2023 Inducement Plan (the “Inducement Plan”).

The stock options have a ten-year term and an exercise price of $2.27 per share, which is equal to the closing price of Vor Bio’s common stock on March 1, 2024. The options 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 the employee’s continued employment with Vor Bio on such vesting dates. The RSUs will vest over a four-year period, with 25% of the shares vesting after 12 months and the remaining shares vesting quarterly over the following 36 months, subject to the employee’s continued employment with Vor Bio on such vesting dates. The options and RSUs are subject to the terms and conditions of the Inducement Plan and the terms and conditions of an award agreement covering the grants.

About Vor Bio
Vor Bio is a clinical-stage cell and genome engineering company that aims to change the standard of care for patients with blood cancers by engineering hematopoietic stem cells to enable targeted therapies post-transplant. For more information, visit: www.vorbio.com.

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


Vor Bio granted stock options to purchase 4,250 shares and RSUs representing 6,375 shares to two newly hired employees.

The stock options and RSUs were granted under the Vor Biopharma Inc. 2023 Inducement Plan.

The exercise price of the stock options is $2.27 per share.

The stock options have a ten-year term.

The options and RSUs vest over a four-year period, with 25% vesting after 12 months and the remaining shares vesting monthly or quarterly over the following 36 months.
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About VOR

vor biopharma is pioneering engineered hematopoietic stem cells (ehscs) to dramatically change the treatment paradigm for hematological cancers. vor’s ehscs are designed to generate healthy, fully functional cells with specific advantageous modifications, for example to protect the blood and bone marrow from the toxic effects of antigen-targeted therapies, protecting healthy cells from depletion but leaving tumor cells vulnerable. vor’s platform could potentially be used to change the treatment paradigm of both hematopoietic stem cell transplants and antigen-targeted therapies such as antibody drug conjugates, bispecific antibodies and car-t cell treatments. a proof-of-concept study for vor’s lead program has been published in proceedings of the national academy of sciences. vor is based in cambridge, mass. and has a broad intellectual property base including in-licenses from columbia university, where foundational work was conducted by inventor and vor scientific board chair siddhar