IVERIC bio Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4)
IVERIC bio, Inc. (NASDAQ: ISEE) announced the grant of equity-based awards to a newly hired employee as part of its 2019 Inducement Stock Incentive Plan. The compensation committee approved the stock option to purchase 34,000 shares at an exercise price of $6.37 per share, with a ten-year term and vesting over four years. An additional grant of 7,000 restricted stock units will vest fully on December 3, 2021. These grants are designed to incentivize employee retention and align with the company's mission to develop treatments for retinal diseases.
- Equity-based awards granted to retain newly hired talent.
- Stock options with a competitive exercise price of $6.37.
- Long vesting period encourages employee commitment.
- None.
NEW YORK--(BUSINESS WIRE)--IVERIC bio, Inc. (NASDAQ: ISEE) today reported that on December 3, 2020, the Company granted a newly hired employee equity-based awards pursuant to the Company’s 2019 Inducement Stock Incentive Plan. The inducement grants were approved by the Company’s compensation committee pursuant to a delegation by the Company’s board of directors and were made as a material inducement to the employee’s acceptance of employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4) as a component of the employee’s employment compensation.
The inducement grants consisted of a non-statutory option to purchase 34,000 shares of the Company’s common stock, a grant of 7,000 restricted stock units for shares of the Company’s common stock.
The stock option has an exercise price of
About IVERIC bio
IVERIC bio is a science-driven biopharmaceutical company focused on the discovery and development of novel treatment options for retinal diseases with significant unmet medical needs. The Company is currently developing both therapeutic product candidates for age-related retinal diseases and gene therapy product candidates for orphan inherited retinal diseases. Vision is Our Mission. For more information on the Company, please visit www.ivericbio.com.
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