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

Rhea-AI Summary

BridgeBio Pharma, Inc. (Nasdaq: BBIO) announced the grant of 26,657 restricted stock units to seven new employees. The shares will vest over time, subject to continued employment, under the Amended and Restated 2019 Inducement Equity Plan.

PALO ALTO, Calif., Aug. 04, 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 August 02, 2023, the compensation committee of BridgeBio’s board of directors granted seven new employees restricted stock units for an aggregate of 26,657 shares of the Company’s common stock. One-fourth of the shares underlying each employee’s restricted stock units will vest on August 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 August 02, 2023?

BridgeBio announced the grant of 26,657 restricted stock units to seven new employees.

What is the vesting schedule for the shares?

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

Under what plan were the awards made?

The awards were made under BridgeBio's Amended and Restated 2019 Inducement Equity Plan.

Why were the awards granted?

The awards were granted as an inducement material to the employees entering into employment with the Company.

When was the Plan adopted and amended?

The Plan was adopted in November 2019 and amended on February 10, 2023.