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

Rhea-AI Summary

Liquidia Corporation (NASDAQ: LQDA) announced the grant of an inducement stock option for 25,700 shares of its common stock to a new non-executive employee. This grant, made under the 2022 Inducement Plan, serves as a key part of the employee's compensation package. The stock option is exercisable at a price of $5.47 per share, matching the closing price on the grant date, February 22, 2022. It features a ten-year term and vests over four years with specific vesting conditions.

Positive

• Grant of 25,700 stock options to new employee strengthens talent acquisition.
• Stock option exercises at $5.47, reflecting recent closing price, indicating alignment with market conditions.

Negative

• None.

MORRISVILLE, N.C., Feb. 23, 2022 (GLOBE NEWSWIRE) -- Liquidia Corporation (NASDAQ: LQDA) today announced the grant of an inducement stock option exercisable for an aggregate of 25,700 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 $5.47 per share, the closing price of Liquidia’s common stock on February 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 on February 23, 2022?

Liquidia Corporation granted an inducement stock option for 25,700 shares of common stock to a new non-executive employee.

What is the exercise price of the stock option granted by Liquidia on February 22, 2022?

The stock option is exercisable at a price of $5.47 per share.

What is the vesting schedule 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 thereafter.

Under which plan did Liquidia grant the stock options to the new employee?

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