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Seres Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
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Seres Therapeutics, Inc. (Nasdaq: MCRB) granted inducement equity grants to a new employee, consisting of stock options to purchase 45,000 shares of common stock and restricted stock units covering 22,500 shares of its common stock. The options have an exercise price of $1.21 per share and will vest over time, in accordance with the terms of the Inducement Plan adopted by the company's board of directors in December 2022.
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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 January 10, 2024, the Compensation and Talent Committee of Seres’ board of directors granted inducement equity grants covering an aggregate of 67,500 shares of its common stock to one new employee, consisting of stock options to purchase 45,000 shares of common stock and restricted stock units (“RSUs”) covering 22,500 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 $1.21 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.
What is the ticker symbol of Seres Therapeutics, Inc.?
The ticker symbol of Seres Therapeutics, Inc. is MCRB.
How many shares of common stock were granted to the new employee?
The new employee was granted 67,500 shares of common stock.
What is the exercise price of the stock options granted?
The exercise price of the stock options is $1.21 per share.
What is the vesting schedule for the stock options and RSUs?
The stock options and RSUs will vest over time, with the options vesting as to 25% of the total number of shares on the first anniversary of the individual’s date of hire and the RSUs vesting 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.
When was the Inducement Plan adopted by Seres' board of directors?
The Inducement Plan was adopted by Seres' board of directors in December 2022.
