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

Rhea-AI Summary

On May 4, 2021, BridgeBio Pharma, Inc. (Nasdaq: BBIO) announced the granting of restricted stock units for 70,949 shares to 27 new employees. This decision was made by the compensation committee under the company's 2019 Inducement Equity Plan, in compliance with Nasdaq Listing Rule 5635(c)(4). The Plan aims to incentivize new hires effectively. Founded in 2015, BridgeBio focuses on developing medicines for genetic diseases and cancers, with over 30 programs in various clinical stages.

Positive

• Granting of 70,949 restricted stock units to 27 new employees may enhance talent acquisition and retention.
• The use of the 2019 Inducement Equity Plan aligns employee incentives with company performance.

Negative

• None.

PALO ALTO, Calif., May 14, 2021 (GLOBE NEWSWIRE) -- BridgeBio Pharma, Inc. (Nasdaq: BBIO), a clinical-stage biopharmaceutical company focused on genetic diseases, today announced that on May 4, 2021, the compensation committee of BridgeBio’s board of directors granted 27 new employees restricted stock units for an aggregate of 70,949 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

Source: BridgeBio Pharma, Inc.

FAQ

What is the significance of the restricted stock units granted by BridgeBio Pharma?

The restricted stock units aim to incentivize and attract new talent to BridgeBio, supporting its growth as a clinical-stage biopharmaceutical company.

How many shares were granted in the recent stock award by BridgeBio?

BridgeBio granted an aggregate of 70,949 shares as restricted stock units to 27 new employees.

Under which plan did BridgeBio grant the stock units?

The stock units were granted under BridgeBio's 2019 Inducement Equity Plan.

When was the stock award announced by BridgeBio?

The stock award was announced on May 14, 2021.

What is BridgeBio Pharma's primary focus?

BridgeBio Pharma focuses on developing transformative medicines for genetic diseases and cancers linked to genetic drivers.