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Seres Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Seres Therapeutics, Inc. (Nasdaq: MCRB) announced on March 1, 2023, the grant of inducement equity awards totaling 15,500 shares to three new employees. The awards comprise 9,250 stock options and 6,250 restricted stock units (RSUs), issued under the Company's 2022 Employment Inducement Award Plan.
The options have an exercise price of $5.15 per share and will vest over time, with 25% vesting after one year and the remainder vesting quarterly. This plan aims to attract talent in compliance with Nasdaq rules.
Positive
Inducement equity grants totaling 15,500 shares signify a commitment to attract key talent.
Stock options priced at $5.15 provide potential for upside if stock value increases.
Negative
None.
CAMBRIDGE, Mass.--(BUSINESS WIRE)--
Seres Therapeutics, Inc. (Nasdaq: MCRB) (“Seres” or the “Company”), a leading microbiome therapeutics company, today announced that on March 1, 2023, the Compensation and Talent Committee of Seres’ board of directors granted inducement equity grants covering an aggregate of 15,500 shares of its common stock to three new employees, consisting of stock options to purchase an aggregate of 9,250 shares of common stock and restricted stock units (“RSUs”), covering an aggregate of 6,250 shares of its common stock.
These stock options and inducement RSUs are subject to the terms of the Seres Therapeutics, Inc. 2022 Employment Inducement Award Plan (the “Inducement Plan”).
The Inducement Plan is used exclusively for the grant of equity awards to individuals as an inducement material to their entering into employment with Seres pursuant to Nasdaq Listing Rule 5635(c)(4). The Inducement Plan was adopted by Seres’ board of directors in December 2022.
The stock options have an exercise price of $5.15 per share. Each option will vest as to 25% of the total number of shares subject to the option on the first anniversary of the applicable individual’s date of hire and as to 6.25% of the total number of shares subject to the option upon a completion of each three full months of service to the Company thereafter. The RSUs vest as to 25% of an award on the first 15th day of a calendar month that immediately follows the first anniversary of the applicable individual’s date of hire and as to an additional 6.25% of the award, upon completion of each three full months of service to the Company thereafter.
About Seres Therapeutics
Seres Therapeutics, Inc. (Nasdaq: MCRB) is a leading microbiome therapeutics company developing a novel class of multifunctional bacterial consortia that are designed to functionally interact with host cells and tissues to treat disease. For more information, please visit www.serestherapeutics.com.
What equity grants did Seres Therapeutics announce on March 1, 2023?
On March 1, 2023, Seres Therapeutics announced inducement equity grants covering an aggregate of 15,500 shares to three new employees, including stock options and restricted stock units.
What is the exercise price of the stock options granted by Seres Therapeutics?
The stock options granted by Seres Therapeutics have an exercise price of $5.15 per share.
What is the vesting schedule for the stock options granted to new employees at Seres Therapeutics?
The stock options will vest 25% on the first anniversary of employment and 6.25% every three months thereafter.
Under which plan were the equity grants made by Seres Therapeutics?
The equity grants were made under the Seres Therapeutics 2022 Employment Inducement Award Plan.
What is the purpose of the 2022 Employment Inducement Award Plan by Seres Therapeutics?
The 2022 Employment Inducement Award Plan is designed to grant equity awards as an inducement for individuals entering employment with Seres.
