Vaxart, Inc. Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Vaxart (NASDAQ: VXRT) announced equity inducement awards for its new Chief Financial Officer, Jeroen Grasman, effective May 19, 2025. The compensation package includes: (1) an option to purchase 1,000,000 shares of common stock, vesting 25% after one year and 1/48th monthly thereafter, with exercise price at grant date closing price, and (2) a restricted stock unit (RSU) award of 350,000 shares, vesting 25% annually over four years. The awards were granted under Vaxart's 2024 Inducement Award Plan, complying with Nasdaq Listing Rule 5635(c)(4) for new employee inducement awards.
Vaxart (NASDAQ: VXRT) ha annunciato l'assegnazione di premi azionari come incentivo per il suo nuovo Direttore Finanziario, Jeroen Grasman, con effetto dal 19 maggio 2025. Il pacchetto retributivo comprende: (1) un'opzione per acquistare 1.000.000 di azioni ordinarie, con maturazione del 25% dopo un anno e 1/48 mensile successivamente, con prezzo di esercizio pari al prezzo di chiusura alla data di concessione, e (2) un premio in unità azionarie vincolate (RSU) di 350.000 azioni, con maturazione del 25% annuale per quattro anni. I premi sono stati concessi nell'ambito del Piano di Incentivazione 2024 di Vaxart, in conformità con la Regola 5635(c)(4) del Nasdaq per premi di incentivo a nuovi dipendenti.
Vaxart (NASDAQ: VXRT) anunció premios de inducción en acciones para su nuevo Director Financiero, Jeroen Grasman, con efecto a partir del 19 de mayo de 2025. El paquete de compensación incluye: (1) una opción para comprar 1,000,000 de acciones ordinarias, con un 25% que se consolida después de un año y 1/48 mensual a partir de entonces, con un precio de ejercicio igual al precio de cierre en la fecha de concesión, y (2) un premio en unidades de acciones restringidas (RSU) de 350,000 acciones, que se consolidan un 25% anualmente durante cuatro años. Los premios se otorgaron bajo el Plan de Premios de Inducción 2024 de Vaxart, cumpliendo con la Regla 5635(c)(4) de Nasdaq para premios de inducción a nuevos empleados.
Vaxart (NASDAQ: VXRT)는 2025년 5월 19일부로 새로운 최고재무책임자(CFO) Jeroen Grasman에게 주식 인센티브 보상을 발표했습니다. 보상 패키지는 다음과 같습니다: (1) 보통주 1,000,000주 매수 옵션으로, 1년 후 25%가 베스팅되고 이후 매월 1/48씩 베스팅되며, 행사 가격은 부여일 종가 기준입니다. (2) 4년에 걸쳐 매년 25%씩 베스팅되는 제한 주식 단위(RSU) 보상 350,000주. 이 보상은 Vaxart의 2024년 인센티브 보상 계획에 따라 부여되었으며, 신규 직원 인센티브 보상에 관한 Nasdaq 상장 규칙 5635(c)(4)를 준수합니다.
Vaxart (NASDAQ: VXRT) a annoncé des attributions d'actions incitatives pour son nouveau Directeur Financier, Jeroen Grasman, à compter du 19 mai 2025. Le package de rémunération comprend : (1) une option d'achat de 1 000 000 d'actions ordinaires, acquise à 25 % après un an puis au rythme de 1/48 chaque mois, avec un prix d'exercice fixé au cours de clôture à la date d'attribution, et (2) une attribution de unités d'actions restreintes (RSU) de 350 000 actions, acquises à raison de 25 % par an sur quatre ans. Ces attributions ont été octroyées dans le cadre du Plan d'Attribution Incitative 2024 de Vaxart, conformément à la règle 5635(c)(4) du Nasdaq relative aux attributions incitatives aux nouveaux employés.
Vaxart (NASDAQ: VXRT) gab Aktienanreizprämien für seinen neuen Finanzvorstand, Jeroen Grasman, bekannt, wirksam ab dem 19. Mai 2025. Das Vergütungspaket umfasst: (1) eine Option zum Kauf von 1.000.000 Stammaktien, die zu 25 % nach einem Jahr und anschließend monatlich zu 1/48 vestet, mit Ausübungspreis zum Schlusskurs am Gewährungstag, und (2) eine Restricted Stock Unit (RSU)-Zuteilung von 350.000 Aktien, die jährlich zu 25 % über vier Jahre vestet. Die Prämien wurden im Rahmen des Vaxart Inducement Award Plans 2024 gewährt und entsprechen der Nasdaq-Listing-Regel 5635(c)(4) für Anreizprämien an neue Mitarbeiter.
- Successful recruitment of new CFO indicating corporate governance strength
- Substantial equity compensation package aligns executive interests with shareholders
- Four-year vesting schedule promotes long-term retention
- Potential dilution from 1.35 million shares in new equity awards
- Significant compensation package may impact operating expenses
SOUTH SAN FRANCISCO, Calif., May 20, 2025 (GLOBE NEWSWIRE) -- Vaxart, Inc. (Nasdaq: VXRT) (the “Company” or “Vaxart”) today announced that the Compensation Committee of the Board of Directors approved certain equity awards to the Company’s new Chief Financial Officer, Jeroen Grasman, effective May 19, 2025. The awards were made pursuant to the Company’s previously disclosed offer letter with Mr. Grasman, and as a material inducement to his joining the Company as Chief Financial Officer.
The awards made to Mr. Grasman are as follows: (i) an option to purchase 1,000,000 shares of Vaxart’s common stock, which vests as to 1/4th of the total shares on the one-year anniversary of his start date, and as to 1/48th of the total shares on each month thereafter, and has a per share exercise price equal to the closing price of Vaxart’s common stock on the grant date; and (ii) a restricted stock unit award covering 350,000 shares of Vaxart’s common stock, which vests as to
The awards were granted under the Vaxart, Inc. 2024 Inducement Award Plan as an employment “inducement award” pursuant to Nasdaq Listing Rule 5635(c)(4). The Inducement Award Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of Vaxart (or following a bona fide period of non-employment) as an inducement material to entering into employment with Vaxart.
About Vaxart
Vaxart is a clinical-stage biotechnology company developing a range of oral recombinant vaccines based on its proprietary delivery platform. Vaxart vaccines are designed to be administered using pills that can be stored and shipped without refrigeration and eliminate the risk of needle-stick injury. Vaxart believes that its proprietary pill vaccine delivery platform is suitable to deliver recombinant vaccines, positioning the company to develop oral versions of currently marketed vaccines and to design recombinant vaccines for new indications. Vaxart’s development programs currently include pill vaccines designed to protect against coronavirus, norovirus and influenza, as well as a therapeutic vaccine for human papillomavirus (HPV), Vaxart’s first immune-oncology indication. Vaxart has filed broad domestic and international patent applications covering its proprietary technology and creations for oral vaccination using adenovirus and TLR3 agonists.
Contact
| Vaxart Media and Investor Relations: |
| Matt Steinberg |
| FINN Partners |
| IR@vaxart.com |
| (646) 871-8481 |
This press release was published by a CLEAR® Verified individual.
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