Liquidia Corporation Reports Inducement Grants 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 newly hired non-executive employee as part of its 2022 Inducement Plan. This grant aligns with Nasdaq Listing Rule 5635(c)(4) and serves as an employment incentive. The option is exercisable at $6.94 per share, the closing price on March 21, 2022, and has a ten-year term with a vesting schedule over four years.

Liquidia focuses on developing treatments for pulmonary hypertension using its PRINT® Technology and has launched YUTREPIA™ for pulmonary arterial hypertension.

Positive

• Grant of stock options incentivizes new hiring, aligning employee interests with shareholder value.
• Stock option priced at $6.94, equal to the closing price, indicating alignment with market value.

Negative

• None.

MORRISVILLE, N.C., March 22, 2022 (GLOBE NEWSWIRE) -- Liquidia Corporation (NASDAQ: LQDA) today announced the grant of an inducement stock option exercisable for an aggregate of 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 $6.94 per share, the closing price of Liquidia’s common stock on March 21, 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 pharmaceutical products to treat pulmonary disease, 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 purpose of Liquidia Corporation's 2022 Inducement Plan?

The 2022 Inducement Plan is designed to grant non-statutory stock options to new hires as an employment incentive.

How many shares were granted to the new employee at Liquidia?

Liquidia Corporation granted a stock option for 2,000 shares to a newly hired employee.

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

The stock option has an exercise price of $6.94 per share.

When was the stock option granted to the new employee at Liquidia Corporation?

The stock option was granted on March 22, 2022.

What is Liquidia Corporation's focus in biopharmaceuticals?

Liquidia Corporation focuses on developing products for pulmonary hypertension and other applications using its PRINT® Technology.