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

Rhea-AI Summary

Astria Therapeutics, Inc. (NASDAQ: ATXS) announced the granting of stock options for 46,500 shares on November 1, 2022, under its 2022 Inducement Stock Incentive Plan. The options, available to new employees, have an exercise price of $10.71, matching the stock's closing price on the grant date. These options will vest over four years, with 25% vesting on the first anniversary of the employee's start date and the remainder vesting monthly. The plan aligns with Nasdaq Listing Rule 5635(c)(4) for employee inducements.

Positive

• The stock options aim to attract talent by offering equity compensation.
• The exercise price aligns with the stock's market value, indicating no immediate dilution.

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 46,500 shares of Astria’s common stock on November 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 $10.71, which is equal to the closing price of Astria’s common stock on November 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/20221102005265/en/

Investor relations:

Andrea Matthews

investors@astriatx.com



Media:

Elizabeth Higgins

media@astriatx.com

Source: Astria Therapeutics, Inc.

FAQ

What stock option plan did Astria Therapeutics implement on November 1, 2022?

Astria Therapeutics granted stock options under its 2022 Inducement Stock Incentive Plan on November 1, 2022.

How many shares were granted to employees as stock options by Astria Therapeutics?

Astria Therapeutics granted a total of 46,500 shares as stock options.

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

The exercise price for the stock options is $10.71, equal to the closing price of the common stock on the grant date.

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

The stock options will vest over a four-year period.