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

Rhea-AI Summary

Liquidia Corporation (NASDAQ: LQDA) announced the grant of inducement stock options totaling 7,000 shares to newly hired non-executive employees under the 2022 Inducement Plan. Each option is priced at $7.44 per share, the closing price on August 19, 2022. The options have a vesting schedule of four years, with 25% vesting on the first anniversary and the remainder vesting monthly. This grant aligns with Nasdaq Listing Rule 5635(c)(4) to attract new talent. Liquidia focuses on developing products for pulmonary hypertension and other applications of its PRINT® Technology.

Positive

• Granting of 7,000 stock options to attract new talent highlights strategic growth efforts.
• Stock options priced at $7.44, aligning with recent market activity, indicating potential investor interest.

Negative

• None.

MORRISVILLE, N.C., Aug. 22, 2022 (GLOBE NEWSWIRE) -- Liquidia Corporation (NASDAQ: LQDA) today announced the grant of inducement stock options exercisable for an aggregate of 7,000 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 $7.44 per share, the closing price of Liquidia’s common stock on August 19, 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

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

FAQ

What is the stock symbol for Liquidia Corporation?

The stock symbol for Liquidia Corporation is LQDA.

How many stock options were granted by Liquidia Corporation?

Liquidia Corporation granted 7,000 stock options to newly hired employees.

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

The exercise price of the stock options granted by Liquidia is $7.44 per share.

What is the vesting schedule for the stock options at Liquidia?

The vesting schedule for the stock options at Liquidia includes 25% vesting on the first anniversary and 1/48th vesting monthly thereafter.