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

Rhea-AI Summary

Astria Therapeutics (Nasdaq: ATXS) announced the grant of stock options for 123,500 shares of its common stock on July 1, 2024, under its 2022 Inducement Stock Incentive Plan.

This grant, aimed at three new employees, aligns with Nasdaq Listing Rule 5635(c)(4) and serves as an inducement for their employment.

Each option has an exercise price of $9.25, equal to the closing price on the grant date, and will vest over four years.

25% of the shares will vest after the first year of employment, with the remainder vesting monthly over the next three years, contingent on continued employment.

Positive

• Granted stock options to purchase 123,500 shares of Astria's common stock.
• The exercise price of $9.25 is aligned with the closing price on the grant date.
• Options will vest over four years, promoting employee retention.

Negative

• None.

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 123,500 shares of Astria’s common stock on July 1, 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 three employees entering into employment with Astria in accordance with Nasdaq Listing Rule 5635(c)(4). The options have an exercise price of $9.25, which is equal to the closing price of Astria’s common stock on July 1, 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/20240702778785/en/

Astria Contact:

Investor Relations and Media:

Elizabeth Higgins

investors@astriatx.com

Source: Astria Therapeutics

FAQ

What stock options were granted by Astria Therapeutics on July 1, 2024?

Astria Therapeutics granted stock options to purchase 123,500 shares of its common stock on July 1, 2024.

Under which plan were Astria Therapeutics' stock options granted?

The stock options were granted under Astria's 2022 Inducement Stock Incentive Plan.

What is the exercise price of the stock options granted by Astria Therapeutics?

The exercise price of the stock options is $9.25, equal to the closing price on the grant date.

How will the stock options granted by Astria Therapeutics vest?

The options will vest over a four-year period, with 25% vesting after the first year and the remainder vesting monthly over the next 36 months.

Who received the stock options granted by Astria Therapeutics?

Three new employees received the stock options as an inducement for their employment.

What is Nasdaq Listing Rule 5635(c)(4) in relation to Astria Therapeutics' stock options?

Nasdaq Listing Rule 5635(c)(4) allows for the granting of equity awards as inducements for new employees to join the company.