89bio Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
89bio (Nasdaq: ETNB) has announced the approval of Inducement Grants by its Compensation Committee. These grants include non-qualified stock options for 19,800 shares to two new employees and 350,000 shares to the newly-hired Chief Operating Officer, Francis Sarena. The grants, made on August 5, 2024, are part of the company's 2023 Inducement Plan and comply with Nasdaq Listing Rule 5635(c)(4).
The exercise price of the options is equal to 89bio's closing stock price on the grant date. The vesting schedule spans four years, with 25% vesting after one year and the remainder vesting in 12 equal quarterly installments, contingent on continued employment.
89bio (Nasdaq: ETNB) ha annunciato l'approvazione delle Inducement Grants da parte del suo Comitato Compensi. Questi grant includono opzioni azionarie non qualificate per 19.800 azioni a due nuovi dipendenti e 350.000 azioni al neoeletto Chief Operating Officer, Francis Sarena. I grant, effettuati il 5 agosto 2024, fanno parte del Piano di Inducement 2023 dell'azienda e sono conformi alla Regola di Listing Nasdaq 5635(c)(4).
Il prezzo di esercizio delle opzioni è pari al prezzo di chiusura delle azioni di 89bio nella data di concessione. Il piano di maturazione si estende su quattro anni, con il 25% delle azioni che matura dopo un anno e il restante che matura in 12 rate trimestrali uguali, condizioni di continuato impiego.
89bio (Nasdaq: ETNB) ha anunciado la aprobación de las Inducement Grants por parte de su Comité de Compensación. Estas concesiones incluyen opciones de acciones no calificadas para 19,800 acciones para dos nuevos empleados y 350,000 acciones para el nuevo Director de Operaciones, Francis Sarena. Las concesiones, realizadas el 5 de agosto de 2024, son parte del Plan de Inducement 2023 de la compañía y cumplen con la Regla de Listado 5635(c)(4) de Nasdaq.
El precio de ejercicio de las opciones es igual al precio de cierre de las acciones de 89bio en la fecha de concesión. El calendario de adquisición se extiende por cuatro años, con el 25% adquiriendo derecho después de un año y el resto adquiriendo en 12 pagos trimestrales iguales, condicionado a la continuidad del empleo.
89bio (Nasdaq: ETNB)가 보상위원회에 의해 Inducement Grants의 승인을 발표했습니다. 이 보상은 두 명의 신규 직원에게 19,800주의 비자격 주식 옵션과 새로 고용된 최고 운영 책임자 Francis Sarena에게 350,000주를 포함합니다. 이 보상은 2024년 8월 5일에 이루어졌으며, 회사의 2023 유도 계획의 일환으로 Nasdaq 상장 규정 5635(c)(4)를 준수합니다.
옵션의 행사가는 보상일의 89bio 종가와 동일합니다. 계약 성과에 대한 일정은 4년으로 설정되어 있으며, 1년 후 25%의 권리가 부여되고 나머지는 계속 고용 조건에 따라 12개의 동등한 분기별 할부로 지급됩니다.
89bio (Nasdaq: ETNB) a annoncé l'approbation des Inducement Grants par son Comité de Rémunération. Ces subventions comprennent des options d'achat d'actions non qualifiées pour 19,800 actions pour deux nouveaux employés et 350,000 actions pour le nouveau Directeur des opérations, Francis Sarena. Les subventions, accordées le 5 août 2024, s'inscrivent dans le cadre du Plan d'incitation 2023 de l'entreprise et sont conformes à la règle de cotation Nasdaq 5635(c)(4).
Le prix d'exercice des options est égal au prix de clôture de l'action de 89bio à la date d'attribution. Le calendrier d'acquisition s'étale sur quatre ans, avec 25 % des actions devenant acquises après un an et le reste étant acquis en 12 versements trimestriels égaux, conditionnés à une poursuite d'emploi.
89bio (Nasdaq: ETNB) hat die Genehmigung von Inducement Grants durch seinen Vergütungsausschuss bekannt gegeben. Diese Zuwendungen beinhalten nicht qualifizierte Aktienoptionen für 19.800 Aktien für zwei neue Mitarbeiter und 350.000 Aktien für den neu gewonnenen Chief Operating Officer, Francis Sarena. Die Zuwendungen, die am 5. August 2024 vergeben wurden, sind Teil des Inducement-Plans 2023 des Unternehmens und entsprechen der Nasdaq-Listing-Regel 5635(c)(4).
Der Ausübungspreis der Optionen entspricht dem Schlusskurs der Aktien von 89bio am Tag der Zuwendung. Der Vesting-Zeitplan erstreckt sich über vier Jahre, wobei 25 % nach einem Jahr und der Rest in 12 gleichen vierteljährlichen Raten, abhängig von der Fortsetzung des Arbeitsverhältnisses, fällig wird.
- Appointment of a new Chief Operating Officer, Francis Sarena
- Granting of stock options to attract and retain key employees
- Potential dilution of existing shareholders due to the issuance of new stock options
SAN FRANCISCO, Aug. 09, 2024 (GLOBE NEWSWIRE) -- 89bio, Inc. (the “Company” or “89bio”) (Nasdaq: ETNB), a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative therapies for the treatment of liver and cardiometabolic diseases, today announced that the Compensation Committee of the Company’s Board of Directors approved the grant of non-qualified stock options to purchase an aggregate of 19,800 shares of the Company’s common stock to two new employees and 350,000 shares of the Company’s common stock to the newly-hired Chief Operating Officer, Francis Sarena (the “Inducement Grants”) on August 5, 2024 (the “Grant Date”). The Inducement Grants have been granted pursuant to the Company’s 2023 Inducement Plan (the “Plan”). The Inducement Grants were granted as an inducement material to these individuals entering into employment with 89bio in accordance with Nasdaq Listing Rule 5635(c)(4).
The Inducement Grants have an exercise price per share that is equal to the closing price of 89bio’s common stock on the Grant Date. The Inducement Grants will vest over a four-year period, with
About 89bio
89bio is a clinical-stage biopharmaceutical company dedicated to the development of best-in-class therapies for patients with liver and cardiometabolic diseases who lack optimal treatment options. The company is in Phase 3 studies for its lead candidate, pegozafermin, for the treatment of metabolic dysfunction-associated steatohepatitis (MASH) and severe hypertriglyceridemia (SHTG). Pegozafermin is a specifically engineered, potentially best-in-class fibroblast growth factor 21 (FGF21) analog with unique glycoPEGylated technology that optimizes biological activity through an extended half-life. The company is headquartered in San Francisco. For more information, visit www.89bio.com or follow the company on LinkedIn.
Investor Contact:
Annie Chang
89bio, Inc.
investors@89bio.com
PJ Kelleher
LifeSci Advisors, LLC
+1-617-430-7579
pkelleher@lifesciadvisors.com
Media Contact:
Sheryl Seapy
Real Chemistry
sseapy@realchemistry.com
FAQ
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