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

Rhea-AI Summary

Astria Therapeutics, Inc. (NASDAQ:ATXS) has granted stock options to purchase 5,500 shares of common stock on September 1, 2022, under its 2022 Inducement Stock Incentive Plan. These options are designed for new employees and have an exercise price of $8.68, equivalent to the closing stock price on the grant date. The options will vest over four years, with 25% vesting after one year and the remainder monthly. This move aligns with Nasdaq Listing Rule 5635(c)(4) for inducement grants.

Positive

• Stock options granted to attract new talent, potentially enhancing team strength.
• Options vesting over four years promotes long-term retention of employees.

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 September 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 $8.68, which is equal to the closing price of Astria’s common stock on September 1, 2022 (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 rare and niche 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. 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/20220902005061/en/

Investor relations:

Andrea Matthews

investors@astriatx.com



Media:

Elizabeth Higgins

media@astriatx.com

Source: Astria Therapeutics, Inc.

FAQ

What stock options were granted by Astria Therapeutics (ATXS) on September 1, 2022?

Astria Therapeutics granted options to purchase 5,500 shares of common stock at an exercise price of $8.68.

What is the vesting schedule for the stock options granted by ATXS?

The options vest over four years, with 25% vesting after the first anniversary of employment and the remaining shares vesting monthly.

What is the purpose of the 2022 Inducement Stock Incentive Plan by Astria Therapeutics?

The plan is used to grant equity awards to new employees, supporting recruitment efforts.

How does the stock option grant impact Astria Therapeutics' employee retention?

The four-year vesting schedule incentivizes employees to remain with the company long-term.