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

Rhea-AI Summary

On March 1, 2021, BridgeBio Pharma (Nasdaq: BBIO) granted 17 new employees a total of 30,510 restricted stock units under its 2019 Inducement Equity Plan. This award serves as an incentive for new employees in alignment with Nasdaq Listing Rule 5635(c)(4). The Plan, established by BridgeBio's board in November 2019, is aimed at promoting employee engagement and retention. Founded in 2015, BridgeBio focuses on developing medicines for genetic diseases and has over 30 programs in its pipeline.

Positive

• Granting of 30,510 restricted stock units to 17 new employees enhances recruitment and retention.
• The inducement aligns with Nasdaq regulations, demonstrating compliance and corporate governance.
• The company continues to expand its workforce, indicating growth potential.

Negative

• None.

PALO ALTO, Calif., March 02, 2021 (GLOBE NEWSWIRE) -- BridgeBio Pharma, Inc. (Nasdaq: BBIO), a clinical-stage biopharmaceutical company focused on genetic diseases, today announced that on March 1, 2021, the compensation committee of BridgeBio’s board of directors granted 17 new employees restricted stock units for an aggregate of 30,510 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 30 development programs includes product candidates ranging from early discovery to late-stage development. For more information visit bridgebio.com.

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

Source: BridgeBio Pharma, Inc.

FAQ

What is the significance of the restricted stock units granted by BridgeBio on March 1, 2021?

The restricted stock units granted to new employees serve as an incentive to attract and retain talent, in compliance with Nasdaq rules.

How many shares of common stock were issued as restricted stock units by BridgeBio?

BridgeBio granted 30,510 shares of common stock as restricted stock units to 17 new employees.

What is the 2019 Inducement Equity Plan of BridgeBio?

The 2019 Inducement Equity Plan is designed to provide equity awards to new employees as an incentive for joining the company.

When was the 2019 Inducement Equity Plan adopted by BridgeBio?

The 2019 Inducement Equity Plan was adopted by BridgeBio's board of directors in November 2019.

What is BridgeBio's focus in the biopharmaceutical industry?

BridgeBio focuses on developing treatments for genetic diseases and cancers with clear genetic drivers.