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

Rhea-AI Summary

BridgeBio Pharma (Nasdaq: BBIO) announced on July 1, 2021, that its compensation committee granted 20 new employees restricted stock units totaling 26,761 shares. This was done as an inducement for new hires, in compliance with Nasdaq Listing Rule 5635(c)(4). These awards were made under BridgeBio's 2019 Inducement Equity Plan, which aims to attract talent in the biopharmaceutical sector to develop treatments for genetic diseases and cancers. The company has over 30 ongoing development programs focused on advancing its first approved therapy.

Positive

• Inducement grants to 20 new employees for 26,761 shares enhance talent acquisition.
• The compensation aligns with Nasdaq Listing Rule 5635(c)(4), ensuring regulatory compliance.

Negative

• None.

PALO ALTO, Calif., July 12, 2021 /PRNewswire/ -- BridgeBio Pharma, Inc. (Nasdaq: BBIO), a commercial-stage biopharmaceutical company founded to discover, create, test and deliver meaningful medicines for patients with genetic diseases and cancers with clear genetic drivers, today announced that on July 1, 2021, the compensation committee of BridgeBio's board of directors granted 20 new employees restricted stock units for an aggregate of 26,761 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 biopharmaceutical company founded to discover, create, test and deliver transformative medicines to treat patients who suffer from genetic diseases and cancers with clear genetic drivers. BridgeBio's pipeline of over 30 development programs ranges from early science to advanced clinical trials and its commercial organization is focused on delivering the Company's first approved therapy. BridgeBio was founded in 2015 and its team of experienced drug discoverers, developers and innovators are committed to applying advances in genetic medicine to help patients as quickly as possible. For more information visit bridgebio.com.

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

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SOURCE BridgeBio

FAQ

What recent stock award announcements has BridgeBio Pharma made?

On July 1, 2021, BridgeBio Pharma granted restricted stock units totaling 26,761 shares to 20 new employees.

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

The restricted stock units were granted as an inducement for new employees entering employment with BridgeBio.

Under which plan were the restricted stock units granted?

The restricted stock units were granted under BridgeBio's 2019 Inducement Equity Plan.

What does Nasdaq Listing Rule 5635(c)(4) cover?

Nasdaq Listing Rule 5635(c)(4) requires approval for inducement grants made to new employees to ensure compliance.

How does BridgeBio Pharma's development pipeline look?

BridgeBio has over 30 development programs focused on delivering transformative medicines for genetic diseases and cancers.