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

Rhea-AI Summary

BridgeBio Pharma announced on September 2, 2021, the granting of restricted stock units totaling 61,210 shares to 29 new employees. This initiative aims to incentivize new hires and is in accordance with Nasdaq Listing Rule 5635(c)(4). These awards were made under the 2019 Inducement Equity Plan, which was approved in November 2019. BridgeBio focuses on developing transformative medicines for genetic diseases and cancers, with over 30 development programs currently in progress.

Positive

• Granting of 61,210 shares as restricted stock units to new employees may enhance talent acquisition and retention.
• Under the 2019 Inducement Equity Plan, the company demonstrates commitment to incentivizing new hires.

Negative

• None.

PALO ALTO, Calif., Sept. 8, 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 September 2, 2021, the compensation committee of BridgeBio's board of directors granted 29 new employees restricted stock units for an aggregate of 61,210 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 are the details of the stock grants announced by BridgeBio on September 2, 2021?

BridgeBio granted 61,210 restricted stock units to 29 new employees as part of its employee compensation strategy under the 2019 Inducement Equity Plan.

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

The restricted stock units are intended to incentivize new employees and align their interests with the company's long-term performance.

How does the 2019 Inducement Equity Plan affect employees at BridgeBio?

The 2019 Inducement Equity Plan allows BridgeBio to grant equity awards to new employees as part of their compensation, enhancing recruitment efforts.

What is BridgeBio's focus in the biopharmaceutical industry?

BridgeBio is focused on discovering and developing transformative medicines for genetic diseases and cancers with clear genetic drivers.