Astria Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Astria Therapeutics, Inc. (NASDAQ:ATXS) granted stock options for 5,500 shares as part of its 2022 Inducement Stock Incentive Plan on June 1, 2022. The options, aimed at new employees, have an exercise price of $3.12, equal to the stock's closing price on the grant date. Vesting occurs over four years, with 25% vesting on the first anniversary of each employee's start date and the rest monthly thereafter. This incentive plan conforms to Nasdaq Listing Rule 5635(c)(4) and is intended to attract talent in the biopharmaceutical sector focused on rare diseases.

Positive

• Granting stock options may attract new talent, aiding in the company's development efforts.
• The exercise price of $3.12 aligns with the market, indicating a fair valuation for the options granted.

Negative

• None.

BOSTON--(BUSINESS WIRE)-- Astria Therapeutics, Inc. (Nasdaq:ATXS), a biopharmaceutical company developing STAR-0215 for the treatment of hereditary angioedema and focused on life-changing therapies for rare and niche allergic and immunological diseases, granted stock options to purchase 5,500 shares of Astria’s common stock on June 1, 2022 under Astria’s 2022 Inducement Stock Incentive Plan. The 2022 Inducement Stock Incentive Plan is used exclusively for the grant of equity awards to individuals who were not previously an employee of Astria.

The options were granted as an inducement material to an employee or employees entering into employment with Astria in accordance with Nasdaq Listing Rule 5635(c)(4). The options have an exercise price of $3.12, which is equal to the closing price of Astria’s common stock on June 1, 2022 (the “Grant Date”), and will vest over a four-year period, with 25% of shares vesting on the first anniversary of the employment start date of each employee (which, in each case, preceded the Grant Date) and the remaining shares vesting monthly on a ratable basis over the following 36 months, subject to the employee’s continued employment with Astria on such vesting dates. The options are subject to the terms and conditions of the 2022 Inducement Stock Incentive Plan and the terms and conditions of an award agreement covering the grant.

About Astria Therapeutics:

Astria Therapeutics is a biopharmaceutical company, and our mission is to bring life-changing therapies to patients and families affected by rare and niche allergic and immunological diseases. Our lead program, STAR-0215, is a monoclonal antibody inhibitor of plasma kallikrein in preclinical development for the treatment of hereditary angioedema. Learn more about our company on our website, www.astriatx.com, or follow us on Twitter and Instagram @AstriaTx and on Facebook and LinkedIn.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220602005266/en/

Investor relations:

Andrea Matthews

investors@astriatx.com



Media:

Elizabeth Higgins

media@astriatx.com

Source: Astria Therapeutics, Inc.

FAQ

What stock options did Astria Therapeutics grant on June 1, 2022?

Astria Therapeutics granted stock options to purchase 5,500 shares as part of its 2022 Inducement Stock Incentive Plan.

What is the exercise price for the stock options granted by ATXS?

The exercise price for the stock options granted by Astria Therapeutics is $3.12.

How long is the vesting period for the stock options at Astria Therapeutics?

The stock options vest over a four-year period, with 25% vesting on the first anniversary of the employee's start date.