Praxis Precision Medicines, Inc. Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Praxis Precision Medicines (NASDAQ: PRAX), a clinical-stage biopharmaceutical company focused on CNS disorders, has granted restricted stock units (RSUs) to a new non-executive employee. The Compensation Committee approved an award of 750 RSUs on June 2, 2025, under the company's 2024 Inducement Plan. The RSUs will vest over four years in equal annual installments, contingent on continued employment. This grant was made in accordance with Nasdaq Listing Rule 5635(c)(4), which allows for equity awards to new employees as employment inducement. The 2024 Inducement Plan is specifically designed for granting equity awards to individuals who were not previously Praxis employees.

BOSTON, June 04, 2025 (GLOBE NEWSWIRE) -- Praxis Precision Medicines, Inc. (Nasdaq: PRAX), a clinical-stage biopharmaceutical company translating genetic insights into the development of therapies for central nervous system (CNS) disorders characterized by neuronal excitation-inhibition imbalance, today announced that on June 2, 2025, the Compensation Committee of Praxis’ Board of Directors granted a restricted stock unit award covering 750 shares of its common stock to one new non-executive employee under the Praxis Precision Medicines, Inc. 2024 Inducement Plan (the 2024 Inducement Plan). The restricted stock unit award was granted as inducement material to the employee’s entering into employment with Praxis in accordance with Nasdaq Listing Rule 5635(c)(4).

The 2024 Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of Praxis, or following a bona fide period of non-employment, as an inducement material to such individuals’ entering into employment with Praxis, pursuant to Nasdaq Listing Rule 5635(c)(4).

The restricted stock units will vest in four equal annual installments, subject to the employee’s continued employment with Praxis on each vesting date.

About Praxis
Praxis Precision Medicines is a clinical-stage biopharmaceutical company translating insights from genetic epilepsies into the development of therapies for CNS disorders characterized by neuronal excitation-inhibition imbalance. Praxis is applying genetic insights to the discovery and development of therapies for rare and more prevalent neurological disorders through our proprietary small molecule platform, Cerebrum™, and antisense oligonucleotide (ASO) platform, Solidus™, using our understanding of shared biological targets and circuits in the brain. Praxis has established a diversified, multimodal CNS portfolio including multiple programs across epilepsy and movement disorders, with four clinical-stage product candidates. For more information, please visit www.praxismedicines.com and follow us on Facebook, LinkedIn and Twitter/X.

Contacts:
Investor Contact:
Praxis Precision Medicines
investors@praxismedicines.com 
857-702-9452

Media Contact:
Dan Ferry
Life Science Advisors
Daniel@lifesciadvisors.com 
617-430-7576

FAQ

What is the size of the RSU grant announced by Praxis Precision Medicines (PRAX)?

The RSU grant consists of 750 shares of common stock awarded to one new non-executive employee.

How will the PRAX restricted stock units vest?

The RSUs will vest in four equal annual installments, subject to the employee's continued employment with Praxis on each vesting date.

What is the purpose of Praxis Precision Medicines' 2024 Inducement Plan?

The 2024 Inducement Plan is used exclusively for granting equity awards to new Praxis employees as an inducement for joining the company, in accordance with Nasdaq Listing Rule 5635(c)(4).

What type of company is Praxis Precision Medicines (PRAX)?

Praxis Precision Medicines is a clinical-stage biopharmaceutical company developing therapies for central nervous system disorders characterized by neuronal excitation-inhibition imbalance.