GeneDx Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

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08/08/2023 - 08:05 PM EDT

STAMFORD, Conn., Aug. 08, 2023 (GLOBE NEWSWIRE) -- GeneDx, a leader in delivering improved health outcomes through genomic and clinical insights, today announced that, effective as of August 8, 2023, the compensation committee of GeneDx’s board of directors granted newly-hired employees 23,769 restricted stock units (“RSUs”) as inducements material to each employee entering into employment with GeneDx. The RSUs were granted under GeneDx’s 2023 Equity Inducement Plan and in accordance with Nasdaq Listing Rule 5635(c)(4).

The inducement RSUs will vest with respect to 25% of the underlying shares on the first anniversary of July 21, 2023 (the “Vesting Commencement Date”) and with respect to 6.25% of the underlying shares on each of the 12 quarterly anniversaries of the Vesting Commencement Date thereafter, subject to the employee’s continued service with the Company on each applicable vesting date.

About GeneDx

GeneDx (Nasdaq: WGS) delivers personalized and actionable health insights to inform diagnosis, direct treatment and improve drug discovery. The company is uniquely positioned to accelerate the use of genomic and large-scale clinical information to enable precision medicine as the standard of care. GeneDx is at the forefront of transforming healthcare through its industry-leading exome and genome testing and interpretation, fueled by one of the world’s largest, rare disease data sets. For more information, please visit www.genedx.com and connect with us on LinkedIn, Facebook, Twitter and Instagram.

GeneDx Investor Relations Contact:
Tricia Truehart
Investors@GeneDx.com

GeneDx Media Contact:
Maurissa Messier
Press@GeneDx.com