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

Rhea-AI Summary

Astria Therapeutics announced on June 3, 2024, that it has granted stock options to purchase 40,000 shares of common stock under its 2022 Inducement Stock Incentive Plan. These options were provided as an inducement to a new employee, with the exercise price set at $9.16, matching the closing price of the stock on the grant date. The vesting schedule spans four years: 25% on the first anniversary of the employee's start date and the remaining shares vesting monthly over the next 36 months. The grants comply with Nasdaq Listing Rule 5635(c)(4).

Positive

• Grant of 40,000 stock options might attract and retain high-quality talent.
• Exercise price of $9.16 aligns with the market value, preventing immediate dilution impact.
• Vesting schedule promotes long-term employee retention.

Negative

• Potential dilution of existing shares through the issuance of new options.
• Extended vesting period could delay realized benefits for both employee and company.

BOSTON--(BUSINESS WIRE)-- Astria Therapeutics, Inc. (Nasdaq:ATXS), a biopharmaceutical company focused on developing life-changing therapies for allergic and immunological diseases, granted stock options to purchase 40,000 shares of Astria’s common stock on June 3, 2024 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 one employee entering into employment with Astria in accordance with Nasdaq Listing Rule 5635(c)(4). The options have an exercise price of $9.16, which is equal to the closing price of Astria’s common stock on June 3, 2024 (the “Grant Date”), and will vest over a four-year period, with 25% of shares vesting on the first anniversary of the employee’s employment start date (which 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 allergic and immunological diseases. Our lead program, STAR-0215, is a monoclonal antibody inhibitor of plasma kallikrein in clinical development for the treatment of hereditary angioedema. Our second program, STAR-0310, is a monoclonal antibody OX40 antagonist in preclinical development for the treatment of atopic dermatitis. Learn more about our company on our website, www.astriatx.com, or follow us on X and Instagram @AstriaTx and on Facebook and LinkedIn.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240604642793/en/

Astria Contact:

Investor Relations and Media:

Elizabeth Higgins

investors@astriatx.com

Source: Astria Therapeutics, Inc.

FAQ

What is the exercise price for the new ATXS stock options granted on June 3, 2024?

The exercise price is $9.16, which matches the closing price of Astria's common stock on the grant date.

How many stock options did Astria Therapeutics grant under the 2022 Inducement Stock Incentive Plan?

Astria Therapeutics granted stock options to purchase 40,000 shares.

What is the vesting schedule for the new ATXS stock options granted on June 3, 2024?

The options vest over four years: 25% on the first anniversary and the remaining shares vesting monthly over the following 36 months.

Why were the new ATXS stock options granted?

The options were granted as an inducement material to a new employee joining Astria Therapeutics, in accordance with Nasdaq Listing Rule 5635(c)(4).