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

Rhea-AI Summary

Astria Therapeutics, Inc. (Nasdaq:ATXS) granted stock options to purchase 173,500 shares of common stock under the 2022 Inducement Stock Incentive Plan to new employees. The options have an exercise price of $9.50, vesting over four years, with 25% vesting after one year and the rest monthly over 36 months, contingent on continued employment.

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 173,500 shares of Astria’s common stock on May 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 four employees entering into employment with Astria in accordance with Nasdaq Listing Rule 5635(c)(4). The options have an exercise price of $9.50 which is equal to the closing price of Astria’s common stock on May 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.

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Astria Contact:

Investor Relations and Media:

Elizabeth Higgins

investors@astriatx.com

Source: Astria Therapeutics, Inc.

FAQ

How many shares of Astria's common stock were granted under the Inducement Stock Incentive Plan?

Astria granted 173,500 shares of common stock.

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

The exercise price for the stock options is $9.50.

How long is the vesting period for the stock options granted by Astria?

The stock options vest over a four-year period.

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

25% of shares vest on the first anniversary, with the remaining shares vesting monthly over 36 months.

Under what conditions do the stock options granted by Astria vest?

The stock options vest based on the employee's continued employment with Astria.