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 1,800 shares of common stock on February 1, 2023. This is part of the 2022 Inducement Stock Incentive Plan, aimed at facilitating equity awards for new employees. The options have an exercise price of $13.36, equal to the closing stock price on the grant date, and will vest over four years. The first 25% will vest on the first anniversary of the employee's start date, with the remainder vesting monthly thereafter, contingent on continued employment. Astria is focused on therapies for rare allergic and immunological diseases, particularly with its lead program, STAR-0215.

Positive

• Grant of stock options may attract talent to Astria Therapeutics.
• Stock options priced at $13.36, equal to market value, reflects positive stock performance.
• Vesting schedule incentivizes employee retention and alignment with shareholder interests.

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 1,800 shares of Astria’s common stock on February 1, 2023 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 $13.36, which is equal to the closing price of Astria’s common stock on February 1, 2023 (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/20230202005707/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 February 1, 2023?

Astria Therapeutics granted stock options to purchase 1,800 shares of common stock under its 2022 Inducement Stock Incentive Plan.

What is the exercise price of the stock options granted by ATXS?

The exercise price of the stock options is $13.36, which is equal to the closing price of Astria's 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, with 25% vesting on the first anniversary of the employee's start date.

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

The plan is designed to grant equity awards to new employees who were not previously employed by Astria.