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

Rhea-AI Summary

Liquidia Corporation (NASDAQ: LQDA) announced the grant of stock options for 35,700 shares to newly hired non-executive employees under its 2022 Inducement Plan. Each stock option, granted as a material inducement for employment acceptance, has an exercise price of $5.63 per share, reflecting the closing price on April 22, 2022. These options will vest over four years, with 25% vesting on the first anniversary and the remainder vesting monthly. This initiative aligns with Nasdaq Listing Rule 5635(c)(4) aimed at attracting talent to support Liquidia's growth in pulmonary hypertension treatments.

Positive

• Granting stock options may improve employee retention and motivation.
• The stock options are part of a strategic initiative to attract skilled talent.

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• None.

MORRISVILLE, N.C., April 25, 2022 (GLOBE NEWSWIRE) -- Liquidia Corporation (NASDAQ: LQDA) today announced the grant of inducement stock options exercisable for an aggregate of 35,700 shares of Liquidia’s common stock to newly hired non-executive employees under the Liquidia Corporation 2022 Inducement Plan (the “Inducement Plan”). Each 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.

Each stock option is exercisable at a price of $5.63 per share, the closing price of Liquidia’s common stock on April 22, 2022, the grant date. Each 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). Each 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 for Media & Investors:

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

FAQ

What is the total number of stock options granted by Liquidia Corporation on April 25, 2022?

Liquidia Corporation granted a total of 35,700 stock options to newly hired non-executive employees.

What is the exercise price of the stock options granted by Liquidia Corporation?

The exercise price for each stock option is $5.63 per share.

How long is the vesting period for the stock options granted by Liquidia Corporation?

The stock options vest over four years, with 25% vesting on the first anniversary and the remainder vesting monthly.

Under which plan did Liquidia Corporation grant stock options in April 2022?

The stock options were granted under the Liquidia Corporation 2022 Inducement Plan.