Seres Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Seres Therapeutics, Inc. announced the grant of equity awards to two new employees under the Inducement Plan. The grants consist of stock options and RSUs, totaling 9,367 shares of common stock. These awards are subject to specific vesting schedules and were granted under Nasdaq Listing Rule 5635(c)(4).

CAMBRIDGE, Mass.--(BUSINESS WIRE)-- Seres Therapeutics, Inc. (Nasdaq: MCRB) (“Seres” or the “Company”), a leading microbiome therapeutics company, today announced that on May 1, 2024, the Compensation and Talent Committee of Seres’ board of directors granted inducement equity grants covering an aggregate of 9,367 shares of its common stock to two new employees, consisting of stock options to purchase 6,244 shares of common stock and restricted stock units (“RSUs”) covering 3,123 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 $1.08 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 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 15^th day of a calendar month that immediately follows the first anniversary of the 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 commercial-stage company developing novel microbiome therapeutics for serious diseases. For more information, please visit www.serestherapeutics.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240506245860/en/

IR and PR Contact

IR@serestherapeutics.com

Source: Seres Therapeutics, Inc.

FAQ

What did Seres Therapeutics announce?

Seres Therapeutics announced the grant of inducement equity grants to two new employees.

How many shares were covered by the grants?

The grants covered a total of 9,367 shares of common stock.

Under which rule were the grants made?

The grants were made under Nasdaq Listing Rule 5635(c)(4).

What is the vesting schedule for the stock options?

The stock options will vest as to 25% of the total shares on the first anniversary of the hire date and 6.25% every three months thereafter.

When do the RSUs vest?

The RSUs vest as to 25% on the first anniversary of the hire date and 6.25% every three months thereafter.