NASDAQ Listing Rule 5635(c)(4) is a rule that requires a company to get approval from its shareholders before selling a large amount of its shares, usually over 20%. This helps protect investors by making sure the company doesn't flood the market with new shares without their say, which could lower the stock's value.
inducement awardfinancial
An inducement award is a special cash or equity payment given to a new hire—often an executive or key employee—outside the company’s regular pay plans to persuade them to join. Think of it like a signing bonus that can align the new person’s goals with shareholders but also represents a cost and can reduce existing owners’ percentage of the company, so investors watch these awards for their impact on ownership and future performance.
equity incentive planfinancial
An equity incentive plan is a program that gives employees, executives or directors the right to receive company stock or options to buy stock as part of their pay. Think of it as offering slices of future company profit to motivate people to boost long‑term performance; for investors it matters because it can align employee goals with shareholder value but also increases the number of shares outstanding, which can dilute existing ownership.
exercise pricefinancial
The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.
vestingfinancial
Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.
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HENDERSON, Nev.--(BUSINESS WIRE)--
Zura Bio Limited (Nasdaq: ZURA) (“Zura” or the “Company”), a clinical-stage biotechnology company developing novel and differentiated medicines to meaningfully improve the lives of patients with serious and debilitating autoimmune and inflammatory diseases, today reported that on May 13, 2026, the Company granted an inducement award consisting of an option to purchase up to 600,000 Class A Ordinary Shares (the “Option”) to Muzammil Mustufa, the Company’s new Chief Business Officer. The award was approved by the Compensation Committee of the Company’s Board of Directors and granted outside the Company’s 2023 Equity Incentive Plan (the “Plan”), with a grant date of May 13, 2026, as an inducement material to Mr. Mustufa’s employment, in accordance with Nasdaq Listing Rule 5635(c)(4). The award is subject to the terms and conditions and other provisions set forth in the Company’s Plan and the award agreement thereunder.
The Option has an exercise price of $4.80 per Class A Ordinary Share, which is equal to the closing price of Zura’s Class A Ordinary Shares on May 13, 2026. The Option will vest over four years, with one fourth (1/4th) of the shares subject to the Option vesting on the one year anniversary of the vesting commencement date, and the remaining shares subject to the Option vesting in equal quarterly installments thereafter, subject to Mr. Mustufa’s continuous service through each such vesting date.
ABOUT ZURA
Zura is a clinical-stage, multi-asset immunology company developing novel dual-pathway antibodies for autoimmune and inflammatory diseases with unmet need. Zura’s pipeline includes product candidates designed to target key mechanisms of immune system imbalance, with the goal of improving efficacy, safety, and dosing convenience for patients.
Zura’s lead product candidate, tibulizumab (ZB-106), is being evaluated in two Phase 2 clinical studies in adults: TibuSHIELD, a study in hidradenitis suppurativa (HS), and TibuSURE, a study in systemic sclerosis (SSc). Additional product candidates torudokimab (ZB-880) and crebankitug (ZB-168) have completed Phase 1/1b studies and are being evaluated for their potential across a range of autoimmune and inflammatory conditions.
