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Seres Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
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Seres Therapeutics, Inc. (MCRB) granted inducement equity grants to a new employee, including stock options and RSUs. The grants cover 6,188 shares of common stock, with options at $0.78 per share and vesting over time.
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CAMBRIDGE, Mass.--(BUSINESS WIRE)--
Seres Therapeutics, Inc. (Nasdaq: MCRB) (“Seres” or the “Company”), a leading microbiome therapeutics company, today announced that on March 13, 2024, the Compensation and Talent Committee of Seres’ board of directors granted inducement equity grants covering an aggregate of 6,188 shares of its common stock to one new employee, consisting of stock options to purchase 4,125 shares of common stock and restricted stock units (“RSUs”) covering 2,063 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 $0.78 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 15th 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.
How many shares of common stock were covered in the inducement equity grants?
The inducement equity grants covered 6,188 shares of common stock.
What is the exercise price per share for the stock options?
The exercise price for the stock options is $0.78 per share.
How do the stock options and RSUs vest?
The stock options vest as to 25% of the total shares on the first anniversary of hire and 6.25% every three months thereafter. The RSUs vest similarly.
