BridgeBio Pharma Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

BridgeBio Pharma (Nasdaq: BBIO) announced the granting of stock options and restricted stock units on May 1, 2020. The compensation committee approved awards for five employees, totaling 39,600 stock options with an exercise price of $28.97 and 18,230 restricted stock units. These awards comply with Nasdaq Listing Rule 5635(c)(4) and are part of the 2019 Inducement Equity Plan established in November 2019. BridgeBio focuses on developing treatments for genetic diseases and has a pipeline of over 20 programs.

Positive

• Granting of stock options and restricted stock units may boost employee retention and morale.
• Compliance with Nasdaq Listing Rule enhances corporate governance.

Negative

• None.

PALO ALTO, Calif., May 05, 2020 (GLOBE NEWSWIRE) -- BridgeBio Pharma, Inc. (Nasdaq: BBIO), a clinical-stage biopharmaceutical company focused on genetic diseases, today announced that on May 1, 2020, the compensation committee of BridgeBio’s board of directors granted five employees options to purchase an aggregate of 39,600 shares of the Company’s common stock with a per share exercise price of $28.97 and restricted stock units for an aggregate of 18,230 shares of the Company’s common stock. All of the above-described awards were made under BridgeBio’s 2019 Inducement Equity Plan (the Plan).

The above-described awards were each granted as an inducement material to the employees entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4), and were granted pursuant to the terms of the Plan. The Plan was adopted by BridgeBio’s board of directors in November 2019.

About BridgeBio
BridgeBio is a team of experienced drug discoverers, developers and innovators working to create life-altering medicines that target well-characterized genetic diseases at their source. BridgeBio was founded in 2015 to identify and advance transformative medicines to treat patients who suffer from Mendelian diseases, which are diseases that arise from defects in a single gene, and cancers with clear genetic drivers. BridgeBio’s pipeline of over 20 development programs includes product candidates ranging from early discovery to late-stage development.

Media Contact:
Grace Rauh
Grace.rauh@bridgebio.com
(917) 232-5478

Investor Contact:
John Grimaldi, Burns McClellan
jgrimaldi@burnsmc.com
212-213-0006 ext. 362

Source: BridgeBio Pharma, Inc.

FAQ

What recent compensation changes were announced by BridgeBio Pharma?

On May 1, 2020, BridgeBio Pharma granted stock options and restricted stock units to five employees.

How many shares did BridgeBio Pharma grant as stock options?

BridgeBio Pharma granted a total of 39,600 stock options.

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

The exercise price for the stock options is $28.97 per share.

Which plan facilitated the stock awards for BridgeBio employees?

The awards were made under BridgeBio's 2019 Inducement Equity Plan.

What is the purpose of the stock options and restricted stock units granted by BridgeBio?

These awards are intended as an inducement for employees entering employment with the company.