enGene Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)

Rhea-AI Summary

enGene Holdings (Nasdaq: ENGN) has announced the granting of inducement equity awards to seven newly-hired employees effective April 2, 2025. The awards comprise non-qualified stock options to purchase a total of 144,650 common shares at an exercise price of $4.44 per share, matching the closing price on the grant date.

The stock options feature a 10-year term with a four-year vesting schedule: 25% vesting after one year of employment, followed by monthly vesting over three years. These grants, approved by the Company's independent Compensation Committee, serve as employment inducements under NASDAQ Rule 5635(c)(4).

BOSTON & MONTREAL--(BUSINESS WIRE)-- enGene Holdings Inc. (Nasdaq: ENGN, “enGene” or the “Company”), a clinical-stage, non-viral genetic medicines company, today reported the grant of inducement equity awards to seven newly-hired employees, with a grant date of April 2, 2025. The inducement awards consist of a non-qualified stock options to purchase an aggregate 144,650 of the Company's common shares. The options each have an exercise price of $4.44 per share, which is equal to the closing price of the Company's common shares on April 2, 2025, the date of grant. Each stock option has a 10-year term and will vest over four years, with 25% of the underlying shares vesting on the one-year anniversary of the employee’s employment commencement date and the remainder vesting in equal amounts monthly for three years thereafter, subject to the employee’s continued service as an employee of, or other service provider to, the Company through the applicable vesting dates.

The stock options were granted by the Company's independent Compensation Committee of the Board of Directors as an inducement material to each new employee entering into employment with the Company in accordance with NASDAQ Listing Rule 5635(c)(4). While the stock options were granted outside of the Amended and Restated enGene Holdings Inc. 2023 Incentive Equity Plan (“Plan”), each option 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 detalimogene voraplasmid (also known as detalimogene, and previously EG-70) for patients with Non-Muscle Invasive Bladder Cancer (NMIBC), a disease with a high clinical burden. Detalimogene is being evaluated in the ongoing multi-cohort LEGEND Phase 2 study, which includes a pivotal cohort studying detalimogene in Bacillus Calmette-Guérin (BCG)-unresponsive patients with carcinoma in situ (CIS). Detalimogene 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.

To learn more, please visit enGene.com and follow us on LinkedIn, X and BlueSky.

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For media contact:

media@engene.com



For investor contact:

investors@engene.com

Source: enGene Holdings Inc.

FAQ

What is the vesting schedule for enGene's (ENGN) April 2025 inducement stock options?

The options vest over 4 years: 25% after first year, then monthly vesting over 3 years, subject to continued employment.

How many common shares are covered by enGene's (ENGN) April 2025 inducement grants?

The inducement grants cover 144,650 common shares through non-qualified stock options.

What is the exercise price for enGene's (ENGN) April 2025 inducement stock options?

The exercise price is $4.44 per share, equal to the closing price on April 2, 2025.

How long is the term of enGene's (ENGN) April 2025 inducement stock options?

The stock options have a 10-year term.