Avidity Biosciences Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Avidity Biosciences (RNA) has granted equity awards to 37 new non-executive employees under its 2022 Employment Inducement Incentive Award Plan. The grants include 720,400 non-qualified stock options with an exercise price of $31.82 per share and 276,200 restricted stock units (RSUs).
The stock options will vest over four years, with 25% vesting after one year and the remainder vesting monthly over 36 months. The RSUs will vest in four equal annual installments. These awards were granted as employment inducements in accordance with Nasdaq Listing Rule 5635(c)(4).
Avidity Biosciences (RNA) ha concesso premi azionari a 37 nuovi dipendenti non esecutivi nell'ambito del suo Piano di Incentivazione all'Occupazione 2022. I premi includono 720.400 opzioni su azioni non qualificate con un prezzo di esercizio di 31,82 dollari per azione e 276.200 unità azionarie vincolate (RSU).
Le opzioni su azioni matureranno nel corso di quattro anni, con il 25% che maturerà dopo un anno e il restante che maturerà mensilmente per 36 mesi. Le RSU matureranno in quattro rate annuali uguali. Questi premi sono stati concessi come incentivi all'occupazione in conformità con la Regola di quotazione Nasdaq 5635(c)(4).
Avidity Biosciences (RNA) ha otorgado premios de acciones a 37 nuevos empleados no ejecutivos bajo su Plan de Incentivos de Empleo 2022. Las concesiones incluyen 720,400 opciones de acciones no calificadas con un precio de ejercicio de $31.82 por acción y 276,200 unidades de acciones restringidas (RSUs).
Las opciones sobre acciones se consolidarán durante cuatro años, con un 25% de consolidación después de un año y el resto consolidándose mensualmente durante 36 meses. Las RSUs se consolidarán en cuatro pagos anuales iguales. Estos premios se otorgaron como incentivos de empleo de acuerdo con la Regla de Cotización Nasdaq 5635(c)(4).
Avidity Biosciences (RNA)는 2022년 고용 유도 인센티브 상여 계획에 따라 37명의 신규 비상임 직원에게 주식 상여를 부여했습니다. 이 상여는 720,400개의 비자격 주식 옵션과 주당 $31.82의 행사가격을 가진 276,200개의 제한된 주식 단위(RSU)를 포함합니다.
주식 옵션은 4년에 걸쳐 만료되며, 1년 후 25%가 만료되고 나머지는 36개월 동안 매월 만료됩니다. RSU는 4개의 동등한 연간 할부로 만료됩니다. 이러한 상여는 Nasdaq 상장 규칙 5635(c)(4)에 따라 고용 유도 목적으로 부여되었습니다.
Avidity Biosciences (RNA) a accordé des récompenses en actions à 37 nouveaux employés non exécutifs dans le cadre de son Plan d'Incentive à l'Emploi 2022. Les attributions comprennent 720 400 options d'actions non qualifiées avec un prix d'exercice de 31,82 $ par action et 276 200 unités d'actions restreintes (RSUs).
Les options d'actions viendront à échéance sur quatre ans, avec 25 % de la valeur qui échoit après un an et le reste qui viendra à échéance mensuellement pendant 36 mois. Les RSUs viendront à échéance en quatre versements annuels égaux. Ces récompenses ont été accordées comme incitations à l'emploi conformément à la règle de cotation Nasdaq 5635(c)(4).
Avidity Biosciences (RNA) hat 37 neuen nicht-executive Mitarbeitern im Rahmen seines Beschäftigungsanreiz-Incentive-Plans 2022 Aktienpreise gewährt. Die Vergaben umfassen 720.400 nicht qualifizierte Aktienoptionen zu einem Ausübungspreis von 31,82 $ pro Aktie und 276.200 eingeschränkte Aktieneinheiten (RSUs).
Die Aktienoptionen werden über vier Jahre fällig, wobei 25 % nach einem Jahr fällig werden und der Rest monatlich über 36 Monate fällig wird. Die RSUs werden in vier gleichen Jahresraten fällig. Diese Auszeichnungen wurden gemäß der Nasdaq-Listing-Regel 5635(c)(4) als Beschäftigungsanreize vergeben.
- Successful recruitment of 37 new employees indicating company growth
- Stock options granted at $31.82 per share, reflecting current market value
- Potential future dilution from 996,600 new shares (options and RSUs combined)
Insights
The inducement grants, while part of standard employee compensation practices, reveal strategic insights about Avidity Biosciences' expansion plans. The company is significantly bolstering its workforce with 37 new non-executive employees, receiving equity awards valued at
The four-year vesting schedule with a one-year cliff for options and annual vesting for RSUs indicates a strong focus on long-term retention. This compensation structure aligns with industry best practices for biotech firms, where talent retention is important for maintaining continuity in drug development programs. The exercise price at market value (
For investors, this expansion signals confidence in Avidity's pipeline and business trajectory. With a market cap of
The strategic expansion of Avidity's workforce through these inducement grants is particularly noteworthy given their focus on Antibody Oligonucleotide Conjugates (AOCs™). The hiring of 37 new employees suggests acceleration in their development pipeline and research initiatives. For context, AOCs represent a novel therapeutic approach combining the precision of antibodies with the disease-modifying potential of oligonucleotides.
The size of the hiring wave is substantial for a company in the RNA therapeutics space, indicating possible preparation for expanded clinical programs or scaling of their platform technology. The non-executive nature of these hires suggests strengthening of technical and operational capabilities rather than leadership restructuring.
From a competitive standpoint, these aggressive hiring moves position Avidity to maintain its momentum in the RNA therapeutics field. The company appears to be investing heavily in human capital at a time when many biotechs are conserving resources, suggesting strong confidence in their technology platform and upcoming milestones.
The 2022 Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of Avidity, or following a bona fide period of non-employment, as an inducement material to such individuals' entering into employment with Avidity, pursuant to Nasdaq Listing Rule 5635(c)(4).
The options have an exercise price of
About Avidity
Avidity Biosciences, Inc.'s mission is to profoundly improve people's lives by delivering a new class of RNA therapeutics - Antibody Oligonucleotide Conjugates (AOCs™). Avidity is revolutionizing the field of RNA with its proprietary AOCs, which are designed to combine the specificity of monoclonal antibodies with the precision of oligonucleotide therapies to address targets and diseases previously unreachable with existing RNA therapies. Utilizing its proprietary AOC platform, Avidity demonstrated the first-ever successful targeted delivery of RNA into muscle and is leading the field with clinical development programs for three rare neuromuscular diseases: myotonic dystrophy type 1 (DM1), Duchenne muscular dystrophy (DMD) and facioscapulohumeral muscular dystrophy (FSHD). Avidity is also advancing two wholly-owned precision cardiology development candidates addressing rare genetic cardiomyopathies. In addition, Avidity is broadening the reach of AOCs with its advancing and expanding pipeline including programs in cardiology and immunology through key partnerships. Avidity is headquartered in
Investor Contact:
Kat Lange
(619) 837-5014
investors@aviditybio.com
Media Contact:
Di Andrews
(619) 837-5016
media@aviditybio.com
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SOURCE Avidity Biosciences, Inc.
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