Replimune Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Replimune Group, Inc. (NASDAQ: REPL) announced the grant of inducement equity awards to Chris Sarchi, its new Chief Commercial Officer. These awards include non-qualified stock options to purchase 82,500 shares and restricted stock units for 55,000 shares. The options have an exercise price of $27.20, vesting over four years. The awards were approved under the Employment Commencement Incentive Plan and align with Nasdaq regulations. Replimune aims to transform cancer treatment through innovative oncolytic immunotherapies, utilizing its proprietary RPx platform.
- Appointment of Chris Sarchi as Chief Commercial Officer may strengthen leadership.
- Inducement equity awards encourage long-term commitment from new executives.
- None.
WOBURN, Mass., Jan. 04, 2023 (GLOBE NEWSWIRE) -- Replimune Group, Inc. (NASDAQ: REPL), a clinical stage biotechnology company pioneering the development of a novel class of tumor-directed oncolytic immunotherapies (TDOIs), today announced the grant of inducement equity awards to Chris Sarchi, the Company’s newly appointed Chief Commercial Officer.
The inducement awards consist of a non-qualified stock option to purchase 82,500 shares of the Company’s common stock and restricted stock units representing 55,000 shares of the Company’s common stock. The option has an exercise of
The inducement awards were granted under the Company’s previously approved Employment Commencement Incentive Plan, and were approved by the compensation committee of the Company’s board of directors in reliance on the employment inducement exception under Nasdaq Listing Rule 5635(c)(4). While the inducement awards were granted outside of Replimune’s 2018 Equity Incentive Plan, the awards will have terms and conditions consistent with those set forth under the plan.
About Replimune
Replimune Group, Inc., headquartered in Woburn, MA, was founded in 2015 with the mission to transform cancer treatment by pioneering the development of novel tumor-directed oncolytic immunotherapies. Replimune’s proprietary RPx platform is based on a potent HSV-1 backbone with payloads added to maximize immunogenic cell death and the induction of a systemic anti-tumor immune response. The RPx platform has a unique dual local and systemic mechanism of action (MOA) consisting of direct selective virus-mediated killing of the tumor resulting in the release of tumor derived antigens and altering of the tumor microenvironment (TME) to ignite a strong and durable systemic response. This MOA is expected to be synergistic with most established and experimental cancer treatment modalities, and, with an attractive safety profile the RPx platform has the versatility to be developed alone or combined with a variety of other treatment options. For more information, please visit www.replimune.com.
Investor Inquiries
Chris Brinzey
ICR Westwicke
339.970.2843
chris.brinzey@westwicke.com
Media Inquiries
Lissette Steele
Verge Scientific Communications
202.930.4762 x 409
lsteele@vergescientific.com
FAQ
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