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

Rhea-AI Summary

Liquidia Corporation (NASDAQ: LQDA) announced the grant of a stock option for 2,000 shares to a new non-executive employee under its 2022 Inducement Plan. This option is part of the employee's compensation, aligning with Nasdaq Listing Rule 5635(c)(4). The stock option, exercisable at $5.20 per share, has a ten-year term and vests over four years, with 25% vesting after the first year and monthly vesting thereafter. Liquidia focuses on developing products for pulmonary hypertension utilizing its PRINT® Technology.

MORRISVILLE, N.C., July 25, 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 $5.20 per share, the closing price of Liquidia’s common stock on July 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 was announced by Liquidia Corporation on July 25, 2022?

Liquidia Corporation announced the grant of a stock option for 2,000 shares to a newly hired non-executive employee as part of their 2022 Inducement Plan.

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

The stock option is exercisable at a price of $5.20 per share, which was the closing price on July 22, 2022.

How does the vesting schedule for the stock option work?

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

What does Liquidia Corporation focus on?

Liquidia Corporation is focused on the development and commercialization of products for pulmonary hypertension and utilizes its PRINT® Technology.