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Astria Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
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Astria Therapeutics, Inc. (ATXS) granted stock options to purchase 40,000 shares of common stock under the 2022 Inducement Stock Incentive Plan. The options have an exercise price of $14.98 and will vest over a four-year period. This move aims to attract and retain key talent in the company.
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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 40,000 shares of Astria’s common stock on March 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 two employees entering into employment with Astria in accordance with Nasdaq Listing Rule 5635(c)(4). The options have an exercise price of $14.98, which is equal to the closing price of Astria’s common stock on March 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.
How many shares of common stock did Astria Therapeutics (ATXS) grant under the 2022 Inducement Stock Incentive Plan?
Astria Therapeutics granted 40,000 shares of common stock.
What is the exercise price of the stock options granted by Astria Therapeutics (ATXS)?
The exercise price of the stock options is $14.98.
How long will it take for the stock options to vest?
The stock options will vest over a four-year period.
Under what conditions will the shares vest for the employees of Astria Therapeutics (ATXS)?
25% of shares will vest on the first anniversary of the employee's employment start date, with the remaining shares vesting monthly on a ratable basis over the following 36 months, subject to continued employment.
What is the purpose of granting these stock options by Astria Therapeutics (ATXS)?
The stock options were granted as an inducement material to two employees entering into employment with Astria to attract and retain key talent.
