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

Rhea-AI Summary

BridgeBio Pharma, Inc. (Nasdaq: BBIO) announced the grant of 183,533 restricted stock units to 33 new employees. The shares will vest over time, subject to continued employment. The awards were made under the Amended and Restated 2019 Inducement Equity Plan, in accordance with Nasdaq Listing Rule 5635(c)(4).

PALO ALTO, Calif., Nov. 08, 2023 (GLOBE NEWSWIRE) -- BridgeBio Pharma, Inc. (Nasdaq: BBIO) (“BridgeBio” or the “Company”), a commercial-stage biopharmaceutical company focused on genetic diseases and cancers, today announced that on November 07, 2023, the compensation committee of BridgeBio’s board of directors granted thirty-three new employees restricted stock units for an aggregate of 183,533 shares of the Company’s common stock. One-fourth of the shares underlying each employee’s restricted stock units will vest on November 16, 2024, with one-twelfth of the remaining shares underlying each such employee’s restricted stock units vesting on a quarterly basis thereafter, in each case, subject to each such employee’s continued employment with the Company or one of its subsidiaries on such vesting dates. All of the above-described awards were made under BridgeBio’s Amended and Restated 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 and amended and restated on February 10, 2023.

About BridgeBio Pharma, Inc.

BridgeBio Pharma, Inc. is a commercial-stage 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 development programs ranges from early science to advanced clinical trials. 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 and follow us on LinkedIn and Twitter.

BridgeBio Contact:

Vikram Bali
contact@bridgebio.com
(650)-789-8220

FAQ

What did BridgeBio announce on November 7, 2023?

BridgeBio announced the grant of 183,533 restricted stock units to 33 new employees.

How many shares were granted to the new employees?

183,533 shares of the Company’s common stock were granted.

What is the Amended and Restated 2019 Inducement Equity Plan?

The Plan is a program adopted by BridgeBio’s board of directors for granting stock awards as inducements for new employees.

What is the vesting schedule for the restricted stock units?

One-fourth of the shares will vest on November 16, 2024, with the remaining shares vesting on a quarterly basis thereafter, subject to continued employment.