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 for a total of 24,800 shares to newly hired non-executive employees under its 2022 Inducement Plan. Each stock option, exercisable at $5.79 per share, represents a component of the employment compensation for the new hires. The options have a ten-year term and vest over four years. This plan complies with Nasdaq Listing Rule 5635(c)(4) and is intended to attract and retain talent within the company.

Positive

• Grant of 24,800 stock options to attract new talent.
• Stock options exercisable at $5.79, aligning with market conditions.
• Options vesting over four years incentivizes employee retention.

Negative

• None.

MORRISVILLE, N.C., June 24, 2022 (GLOBE NEWSWIRE) -- Liquidia Corporation (NASDAQ: LQDA) today announced the grant of inducement stock options exercisable for an aggregate of 24,800 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 $5.79 per share, the closing price of Liquidia’s common stock on May 20, 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 significance of the stock options granted by Liquidia Corporation (LQDA)?

The stock options are part of an inducement plan to attract new employees and are aimed at enhancing employee retention.

How many stock options were granted by Liquidia Corporation (LQDA) and at what price?

Liquidia granted a total of 24,800 stock options exercisable at $5.79 per share.

What is the vesting schedule for the stock options granted by LQDA?

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

Under which plan were the stock options granted by Liquidia Corporation (LQDA)?

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

What is the term of the stock options granted by Liquidia Corporation (LQDA)?

The options have a term of up to ten years.