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

Rhea-AI Summary

BridgeBio Pharma, Inc. (Nasdaq: BBIO) announced on December 1, 2020, the granting of stock options and restricted stock units to 15 new employees. A total of 15,351 stock options were granted at an exercise price of $51.13, along with 21,092 restricted stock units. This initiative was executed under the 2019 Inducement Equity Plan, aimed to incentivize new hires in compliance with Nasdaq Listing Rule 5635(c)(4). Founded in 2015, BridgeBio focuses on developing transformative medicines for genetic diseases and has over 20 development programs in its pipeline.

Positive

• Granting of stock options and restricted stock units indicates company growth and recruitment efforts.
• The compensation plan aligns employee interests with shareholder value by offering equity.
• BridgeBio has a diverse pipeline with over 20 development programs targeting genetic diseases.

Negative

• None.

PALO ALTO, Calif., Dec. 04, 2020 (GLOBE NEWSWIRE) -- BridgeBio Pharma, Inc. (Nasdaq: BBIO), a clinical-stage biopharmaceutical company focused on genetic diseases, today announced that on December 1, 2020, the compensation committee of BridgeBio’s board of directors granted 15 new employees options to purchase an aggregate of 15,351 shares of the Company’s common stock with a per share exercise price of $51.13 and restricted stock units for an aggregate of 21,092 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 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 20 development programs includes product candidates ranging from early discovery to late-stage development.

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

Investor Contact:
John Grimaldi, Burns McClellan
jgrimaldi@burnsmc.com
212-213-0006 ext. 362

Source: BridgeBio Pharma, Inc.

FAQ

What recent stock options were granted by BridgeBio (BBIO)?

On December 1, 2020, BridgeBio granted options to purchase 15,351 shares at $51.13 each and 21,092 restricted stock units to 15 new employees.

What is the purpose of the stock option grant for BridgeBio employees?

The stock option grant is meant to incentivize new hires and align their interests with the company's performance.

How many development programs does BridgeBio have?

BridgeBio has over 20 development programs focused on genetic diseases and cancers with genetic drivers.

What is the significance of the Nasdaq Listing Rule 5635(c)(4) for BridgeBio?

This rule allows companies to grant stock options as an inducement for new employees, ensuring compliance in their compensation practices.