uniQure Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

uniQure N.V. (NASDAQ: QURE) announced granting equity awards to 32 new employees to incentivize their employment. This decision, approved on April 29, 2022, follows Nasdaq Listing Rule 5635(c)(4). The grants consist of 84,900 restricted stock units (RSUs) and options to purchase 119,000 ordinary shares at an exercise price of $14.94 per share, which is the closing price on the Grant Date. The options will vest over four years; RSUs will vest over three years, subject to continued employment.

Positive

• Granting equity awards may attract and retain talented employees, potentially enhancing company performance.
• The exercise price of $14.94 aligns with the market price, indicating no immediate dilution.

Negative

• Absence of financial metrics related to the potential cost of these equity grants.
• No immediate financial benefits or metrics to illustrate how these grants impact the company's performance.

LEXINGTON, Mass. and AMSTERDAM, May 11, 2022 (GLOBE NEWSWIRE) -- uniQure N.V. (NASDAQ: QURE), a leading gene therapy company advancing transformative therapies for patients with severe medical needs, today announced that the Company granted equity awards to 32 newly hired employees as a material inducement to commencing their employment. The equity grants were approved on April 29, 2022 (the “Grant Date”) in accordance with Nasdaq Listing Rule 5635(c)(4).

In the aggregate, the employees received 84,900 restricted stock units (“RSUs”) and options to purchase 119,000 ordinary shares of uniQure. Each option has an exercise price of $14.94 per share, the closing price per ordinary share as reported by Nasdaq on the Grant Date. Each option has a ten-year term and will vest over four years from the Grant Date, with 25% of the original number of shares vesting on the first anniversary of the Grant Date and an additional 6.25% of the shares vesting in approximately equal quarterly installments over the twelve successive quarters following the first anniversary of the Grant Date. The RSUs will vest over three years, with one-third of the RSUs vesting annually on each successive anniversary of the Grant Date. The vesting of each grant of options and RSUs is subject to the employee’s continued service with the Company through the applicable vesting dates.

About uniQure

uniQure is delivering on the promise of gene therapy – single treatments with potentially curative results. We are leveraging our modular and validated technology platform to rapidly advance a pipeline of proprietary gene therapies to treat patients with hemophilia B, Huntington's disease, refractory temporal lobe epilepsy, Fabry disease, and other diseases. www.uniQure.com

uniQure Contacts:

FOR INVESTORS:				FOR MEDIA:
Maria E. Cantor		Chiara Russo		Tom Malone
Direct: 339-970-7536		Direct: 617-306-9137		Direct: 339-970-7558
Mobile: 617-680-9452		Mobile: 617-306-9137		Mobile:339-223-8541
m.cantor@uniQure.com		c.russo@uniQure.com		t.malone@uniQure.com

FAQ

What equity awards were granted by uniQure on May 11, 2022?

uniQure granted 84,900 restricted stock units and options to purchase 119,000 ordinary shares as an inducement for 32 newly hired employees.

What is the exercise price for the options granted by uniQure?

The exercise price for the options is set at $14.94 per share, the closing price on the Grant Date.

How long is the vesting period for the equity awards at uniQure?

Options vest over four years, while restricted stock units vest over three years.

What rule did uniQure follow for equity awards for new employees?

uniQure's equity awards were approved in accordance with Nasdaq Listing Rule 5635(c)(4).

How might the equity grants impact uniQure and its stock symbol QURE?

The equity grants could attract talent, impacting performance positively, but lack immediate financial metrics to quantify the outcome.