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

Rhea-AI Summary

BridgeBio Pharma, Inc. (Nasdaq: BBIO) announced on July 1, 2020, that it granted stock options for 7,120 shares and restricted stock units for 15,134 shares to eight employees. The exercise price for the stock options is set at $30.34. These awards are part of BridgeBio's 2019 Inducement Equity Plan and were granted to incentivize employees joining the company, complying with Nasdaq Listing Rule 5635(c)(4). Founded in 2015, BridgeBio focuses on developing medicines for genetic diseases and has over 20 programs in its pipeline.

Positive

• Employee incentives through stock options and restricted stock units enhance retention and motivation.
• Alignment of employee interests with shareholder value through equity awards.

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• None.

PALO ALTO, Calif., July 06, 2020 (GLOBE NEWSWIRE) -- BridgeBio Pharma, Inc. (Nasdaq: BBIO), a clinical-stage biopharmaceutical company focused on genetic diseases, today announced that on July 1, 2020, the compensation committee of BridgeBio’s board of directors granted eight employees options to purchase an aggregate of 7,120 shares of the Company’s common stock with a per share exercise price of $30.34 and restricted stock units for an aggregate of 15,134 shares of the Company’s common stock, including 1,610 performance-related restricted stock units. 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 stock options were granted by BridgeBio Pharma on July 1, 2020?

On July 1, 2020, BridgeBio Pharma granted stock options to purchase 7,120 shares at an exercise price of $30.34.

What is the purpose of the stock options granted by BridgeBio Pharma?

The stock options were granted as an inducement for employees entering into employment with BridgeBio Pharma.

How many restricted stock units were awarded to BridgeBio employees?

BridgeBio awarded a total of 15,134 restricted stock units, including 1,610 performance-related units.

What plan governs the stock options and restricted stock units granted by BridgeBio?

The awards are made under BridgeBio’s 2019 Inducement Equity Plan.

When was BridgeBio Pharma founded?

BridgeBio Pharma was founded in 2015.