enGene Announces Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)
enGene Holdings Inc. (Nasdaq: ENGN) has granted an inducement equity award to its new CEO, Ron Cooper. The award consists of a non-qualified stock option to purchase 1,250,000 common shares at an exercise price of $8.81 per share, equal to the closing price on July 22, 2024. The option has a 10-year term and will vest over four years, with 25% vesting after one year and the remainder vesting monthly over three years. This grant, approved by the independent Compensation Committee, is in accordance with NASDAQ Listing Rule 5635(c)(4) and is designed to incentivize Mr. Cooper as he joins the company.
enGene Holdings Inc. (Nasdaq: ENGN) ha concesso un premio azionario di incentivo al suo nuovo CEO, Ron Cooper. Il premio consiste in un opzione di acquisto non qualificata per acquistare 1.250.000 azioni ordinarie a un prezzo di esercizio di $8,81 per azione, pari al prezzo di chiusura del 22 luglio 2024. L'opzione ha un termine di 10 anni e si accumulerà nel corso di quattro anni, con il 25% che matura dopo un anno e il resto che matura mensilmente per tre anni. Questa concessione, approvata dal Comitato per la Compensation indipendente, è conforme alla Regola di quotazione NASDAQ 5635(c)(4) ed è progettata per incentivare il signor Cooper nell'unirsi all'azienda.
enGene Holdings Inc. (Nasdaq: ENGN) ha otorgado un premio de acciones por incentivación a su nuevo CEO, Ron Cooper. El premio consiste en una opción de compra de acciones no calificadas para adquirir 1,250,000 acciones comunes a un precio de ejercicio de $8.81 por acción, igual al precio de cierre del 22 de julio de 2024. La opción tiene un plazo de 10 años y se adquirirá durante cuatro años, con el 25% adquiriéndose después de un año y el resto mensualmente a lo largo de tres años. Esta concesión, aprobada por el Comité de Compensación independiente, está de acuerdo con la Regla de Cotización NASDAQ 5635(c)(4) y está diseñada para incentivar al Sr. Cooper a unirse a la empresa.
enGene Holdings Inc. (Nasdaq: ENGN)은 새로운 CEO인 Ron Cooper에게 유도 주식 보상을 부여했습니다. 이 보상은 1,250,000주를 $8.81의 행사 가격으로 구매할 수 있는 자격없는 주식 매수 선택권으로 구성되어 있으며, 이는 2024년 7월 22일의 종가와 동일합니다. 이 선택권은 10년의 기간을 가지며 4년에 걸쳐 발생하게 되며, 1년 후에 25%가 발생되고, 나머지는 3년에 걸쳐 월별로 발생됩니다. 이 보상은 독립 보상 위원회에 의해 승인되었으며, NASDAQ 상장 규칙 5635(c)(4)에 따라 Mr. Cooper가 회사에 합류하는 것을 유도하기 위해 설계되었습니다.
enGene Holdings Inc. (Nasdaq: ENGN) a accordé une prime en actions d'incitation à son nouveau PDG, Ron Cooper. La prime consiste en une option d'achat d'actions non qualifiée pour acheter 1.250.000 actions ordinaires à un prix d'exercice de 8,81 $ par action, équivalent au prix de clôture du 22 juillet 2024. L'option a une durée de 10 ans et sera acquise sur quatre ans, avec 25 % acquises après un an et le reste acquis mensuellement sur trois ans. Cette attribution, approuvée par le Comité de rémunération indépendant, est conforme à la règle d'inscription NASDAQ 5635(c)(4) et vise à inciter M. Cooper à rejoindre l'entreprise.
enGene Holdings Inc. (Nasdaq: ENGN) hat seinem neuen CEO, Ron Cooper, eine Anreizaktienvergütung gewährt. Diese Vergütung besteht aus einer nicht qualifizierten Aktienoption zum Kauf von 1.250.000 Stammaktien zu einem Ausübungspreis von 8,81 $ pro Aktie, was dem Schlusskurs vom 22. Juli 2024 entspricht. Die Option hat eine Laufzeit von 10 Jahren und wird über vier Jahre vesten, wobei 25% nach einem Jahr und der restliche Betrag monatlich über drei Jahre vesten. Diese Gewährung, genehmigt vom unabhängigen Vergütungsausschuss, entspricht der NASDAQ-Notierungsregel 5635(c)(4) und soll Mr. Cooper anspornen, dem Unternehmen beizutreten.
- Appointment of a new CEO, Ron Cooper, potentially bringing fresh leadership and expertise
- Alignment of CEO's interests with shareholders through stock options
- Compliance with NASDAQ listing rules for inducement grants
- Potential dilution of existing shareholders due to the issuance of 1,250,000 new stock options
The inducement award consists of a non-qualified stock option to purchase 1,250,000 of the Company's common shares. The option has an exercise price of
The stock option was granted by the Company's independent Compensation Committee of the Board of Directors as an inducement material to Mr. Cooper entering into employment with the Company in accordance with NASDAQ Listing Rule 5635(c)(4). While the stock option was granted outside of the Company’s Amended and Restated enGene Holdings Inc. 2023 Incentive Equity Plan, it will have terms and conditions consistent with those set forth under the Plan.
About enGene
enGene is a clinical-stage biotechnology company mainstreaming genetic medicines through the delivery of therapeutics to mucosal tissues and other organs, with the goal of creating new ways to address diseases with high clinical needs. enGene’s lead program is EG-70 for patients with Non-Muscle Invasive Bladder Cancer (NMIBC) – a disease with a high clinical burden. EG-70 is being evaluated in the ongoing multi-cohort LEGEND Phase 2 study, which includes a registrational cohort studying EG-70 in Bacillus Calmette Guérin (BCG)-unresponsive patients with carcinoma in situ (Cis). EG-70 was developed using enGene’s proprietary Dually Derivatized Oligochitosan (DDX) platform, which enables penetration of mucosal tissues and delivery of a wide range of sizes and types of cargo, including DNA and various forms of RNA.
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For media contact: media@engene.com
For investor contact: investors@engene.com
Source: enGene Holdings Inc.
FAQ
What inducement grant did enGene (ENGN) offer to its new CEO?
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