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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 February 1, 2023 that its Compensation and Talent Committee granted inducement equity awards totaling 48,750 shares to eleven new employees. This includes stock options for 32,500 shares at an exercise price of $5.49 and restricted stock units (RSUs) for 16,250 shares. The equity grants are part of the 2022 Employment Inducement Award Plan adopted in December 2022. The stock options vest incrementally, while RSUs vest annually and quarterly after the first year.
Positive
Issuance of equity awards may help attract talent, enhancing future growth.
Equity plan aligns employee interests with shareholders, potentially improving company performance.
Negative
None.
CAMBRIDGE, Mass.--(BUSINESS WIRE)--
Seres Therapeutics, Inc. (Nasdaq: MCRB) (“Seres” or the “Company”), a leading microbiome therapeutics company, today announced that on February 1, 2023, the Compensation and Talent Committee of Seres’ board of directors granted inducement equity grants covering an aggregate of 48,750 shares of its common stock to eleven new employees, consisting of stock options to purchase an aggregate of 32,500 shares of common stock and restricted stock units (“RSUs”), covering an aggregate of 16,250 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 $5.49 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 awards were granted by Seres Therapeutics on February 1, 2023?
On February 1, 2023, Seres Therapeutics granted equity awards totaling 48,750 shares to eleven 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 $5.49 per share.
What is the vesting schedule for the stock options granted to new employees?
The stock options vest as to 25% on the first anniversary of hire and 6.25% every three months thereafter.
When was the Employment Inducement Award Plan adopted by Seres Therapeutics?
The Employment Inducement Award Plan was adopted by Seres Therapeutics' board of directors in December 2022.
