Liquidia Corporation Reports Inducement Grant under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Liquidia Corporation (NASDAQ: LQDA) granted a stock option for 2,000 shares of its common stock to a newly hired non-executive employee, as part of the 2022 Inducement Plan. This option, exercisable at $4.58 per share, aligns with Nasdaq Listing Rule 5635(c)(4) regarding inducements for new hires. The stock option vests over four years, with 25% vesting on the first anniversary and the remainder vesting monthly. Liquidia focuses on developing treatments for pulmonary hypertension using its PRINT® Technology.

Positive

• Granting of stock options supports talent acquisition.
• Stock option vesting structure incentivizes long-term commitment.

Negative

• None.

MORRISVILLE, N.C., June 24, 2022 (GLOBE NEWSWIRE) -- Liquidia Corporation (NASDAQ: LQDA) today announced the grant of an inducement stock option exercisable for 2,000 shares of Liquidia’s common stock to a newly hired non-executive employee under the Liquidia Corporation 2022 Inducement Plan (the “Inducement Plan”). The stock option was granted as an inducement material to the grantee’s acceptance of employment with Liquidia (or one of its subsidiaries) as a component of the grantee’s employment compensation in accordance with Nasdaq Listing Rule 5635(c)(4).

The Inducement Plan is used exclusively for the grant of non-statutory stock option awards to individuals who were not previously employees of Liquidia (or following a bona fide period of non-employment), as an inducement material to such individual’s entering into employment with Liquidia, pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules.

The stock option is exercisable at a price of $4.58 per share, the closing price of Liquidia’s common stock on June 22, 2022, the grant date. The stock option has up to a ten-year term and vests over four years, with 25% of the award vesting on the first anniversary of the grant date, and an additional 1/48th of the award vesting monthly thereafter, subject to continued service through the applicable vesting dates (subject to the terms and conditions of the stock option agreement covering the grant). The stock option is subject to the terms and conditions of the Inducement Plan.

About Liquidia Corporation

Liquidia Corporation is a biopharmaceutical company focused on the development and commercialization of products in pulmonary hypertension and other applications of its PRINT^® Technology. The company operates through its two wholly owned subsidiaries, Liquidia Technologies, Inc. and Liquidia PAH, LLC. Liquidia Technologies has developed YUTREPIA™ (treprostinil) inhalation powder for the treatment of pulmonary arterial hypertension (PAH). Liquidia PAH provides the commercialization for rare disease pharmaceutical products, such as generic Treprostinil Injection. For more information, please visit www.liquidia.com.

Contact Information

Media & Investors:
Jason Adair
Senior Vice President, Corporate Development and Strategy
919.328.4400
jason.adair@liquidia.com

FAQ

What stock option was granted by Liquidia Corporation (LQDA)?

Liquidia Corporation granted an inducement stock option for 2,000 shares to a new non-executive employee.

What is the exercise price of the stock option granted by Liquidia (LQDA)?

The exercise price of the stock option is $4.58 per share.

What is the vesting schedule for the stock option granted by Liquidia Corporation (LQDA)?

The stock option vests over four years, with 25% vesting on the first anniversary and the remaining 1/48th vesting monthly thereafter.

What is the purpose of Liquidia's 2022 Inducement Plan?

The 2022 Inducement Plan is designed to provide non-statutory stock options to new hires as an inducement to join the company.

How does the stock option grant affect Liquidia Corporation's (LQDA) workforce?

The stock option grant is expected to support the recruitment and retention of new talent.