Serina Therapeutics Makes Grants to New Employees Under Inducement Plan
Serina Therapeutics (NYSE American: SER), a clinical-stage biotech company developing SER-252 for advanced Parkinson's disease, has granted stock options to three new non-executive employees. The grants, totaling 60,500 shares of common stock, were made on November 6, 2024, with exercise prices matching the closing stock price on that date. These options were approved as employment inducement awards under NYSE American's Company Guide Section 711(a). The options will vest over three years, with one-third vesting after the first year and the remaining two-thirds vesting in 24 monthly installments, contingent on continued employment.
Serina Therapeutics (NYSE American: SER), un'azienda biotech in fase clinica che sviluppa SER-252 per il morbo di Parkinson avanzato, ha concesso opzioni su azioni a tre nuovi dipendenti non esecutivi. Le concessioni, per un totale di 60.500 azioni ordinarie, sono state effettuate il 6 novembre 2024, con prezzi di esercizio corrispondenti al prezzo di chiusura delle azioni in quella data. Queste opzioni sono state approvate come premi per l'induzione all'impiego ai sensi della Sezione 711(a) del Company Guide della NYSE American. Le opzioni matureranno in tre anni, con un terzo che matura dopo il primo anno e i restanti due terzi che maturano in 24 rate mensili, a condizione di un'occupazione continuativa.
Serina Therapeutics (NYSE American: SER), una empresa biotech en etapa clínica que desarrolla SER-252 para la enfermedad de Parkinson avanzada, ha otorgado opciones sobre acciones a tres nuevos empleados no ejecutivos. Las concesiones, por un total de 60,500 acciones ordinarias, se realizaron el 6 de noviembre de 2024, con precios de ejercicio que coinciden con el precio de cierre de las acciones en esa fecha. Estas opciones fueron aprobadas como premios de inducción laboral bajo la Sección 711(a) de la Guía de la Empresa de NYSE American. Las opciones se consolidarán durante tres años, con un tercio consolidándose después del primer año y los dos tercios restantes consolidándose en 24 pagos mensuales, dependiendo de la continuación del empleo.
세리나 테라퓨틱스(뉴욕증권거래소 아메리칸: SER)는 진행성 파킨슨병을 위한 SER-252를 개발 중인 임상 단계 생명공학 회사로, 세 명의 비관리직 신입 직원에게 주식 옵션을 부여했습니다. 이 부여는 2024년 11월 6일에 이루어졌으며, 총 60,500주의 보통주가 포함되어 있으며, 행사 가격은 해당 날짜의 종가와 일치합니다. 이 옵션은 NYSE 아메리칸의 기업 가이드 711(a) 조항에 따라 고용 유도 보상으로 승인되었습니다. 옵션은 3년 동안 분할행사됩니다, 첫 해가 지나고 나서 1/3이 행사되며, 나머지 2/3는 계속 고용되는 조건 하에 24개월에 걸쳐 월별 분할로 행사됩니다.
Serina Therapeutics (NYSE American : SER), une entreprise biopharmaceutique en phase clinique développant SER-252 pour la maladie de Parkinson avancée, a accordé des options sur actions à trois nouveaux employés non exécutifs. Les attributions, totalisant 60 500 actions ordinaires, ont été effectuées le 6 novembre 2024, avec des prix d'exercice correspondant au prix de clôture des actions à cette date. Ces options ont été approuvées en tant que primes d'incitation à l'emploi selon la section 711(a) du guide des entreprises de la NYSE American. Les options seront acquises sur trois ans, avec un tiers qui sera acquis après la première année et les deux tiers restants qui seront acquis en 24 versements mensuels, conditionnellement à la continuation de l'emploi.
Serina Therapeutics (NYSE American: SER), ein biopharmazeutisches Unternehmen in der klinischen Phase, das SER-252 für fortgeschrittene Parkinson-Krankheit entwickelt, hat drei neuen nicht-executive Mitarbeitern Aktienoptionen gewährt. Die Gewährungen, die insgesamt 60.500 Aktien ordentlicher Anteile betragen, wurden am 6. November 2024 gewährt, wobei die Ausübungspreise dem Schlusskurs an diesem Datum entsprechen. Diese Optionen wurden gemäß Abschnitt 711(a) des Unternehmensleitfadens der NYSE American als Anreizvergütungen genehmigt. Die Optionen werden über drei Jahre fällig, wobei ein Drittel nach dem ersten Jahr fällig wird und die verbleibenden zwei Drittel in 24 monatlichen Raten fällig werden, vorausgesetzt, dass das Beschäftigungsverhältnis fortbesteht.
- Company provides equity incentives to align employee interests with shareholders
- Structured vesting schedule promotes employee retention over three years
- Potential shareholder dilution from 60,500 new stock options
Insights
This inducement stock option grant, while a standard practice for attracting talent, represents a minor dilutive event with minimal impact on existing shareholders. The grant of 60,500 shares across three employees follows typical vesting schedules with a three-year timeline. The three-year vesting period with a one-year cliff demonstrates a balanced approach to employee retention. Given Serina's focus on SER-252 for Parkinson's disease, these hires likely support the clinical development pipeline, though their non-executive status suggests operational rather than strategic roles.
The financial impact is negligible relative to the company's market capitalization of
HUNTSVILLE, AL, Nov. 11, 2024 (GLOBE NEWSWIRE) -- Serina Therapeutics, Inc. (“Serina”) (NYSE American: SER), a clinical-stage biotechnology company advancing its lead IND candidate SER-252 for advanced Parkinson's disease, enabled by its proprietary POZ Platform™ drug optimization technology, announced that it has made grants of options to purchase an aggregate of 60,500 shares of Serina’s common stock to three new non-executive employees on November 6, 2024 (each, an “Option Grant”). Each Option Grant has an exercise price equal to the closing price of Serina’s common stock on November 6, 2024. The Option Grants were offered as material inducement to the employees’ employment. The Option Grants were approved by the Compensation Committee of Serina’s Board of Directors on November 6, 2024 pursuant to Serina’s 2024 Inducement Equity Plan to align their interests with Serina’s stockholders and to promote the success of Serina’s business. The Option Grants were made in reliance on the employment inducement exemption under the NYSE American’s Company Guide Section 711(a) which requires public disclosure of inducement awards. Serina is issuing this press release pursuant to Section 711(a) of NYSE American’s Company Guide. The Option Grants shall vest and become exercisable with respect to one-third of the aggregate number of shares subject to each Option Grant on the first anniversary of the grant date, and the remaining two-thirds of the aggregate number of shares subject to each Option Grant shall vest in a series of 24 substantially equal monthly installments thereafter, such that the Option Grant will be vested as of the third anniversary of the grant date, subject to continued employment with Serina.
About Serina Therapeutics
Serina is a clinical-stage biotechnology company developing a pipeline of wholly owned drug product candidates to treat neurological diseases and other indications. Serina’s POZ PlatformTM provides the potential to improve the integrated efficacy and safety profile of multiple modalities including small molecules, RNA-based therapeutics and antibody-based drug conjugates (ADCs). Serina is headquartered in Huntsville, Alabama on the campus of the HudsonAlpha Institute of Biotechnology.
For more information, please visit https://serinatherapeutics.com.
Cautionary Statement Regarding Forward-Looking Statement
This release contains forward-looking statements within the meaning of federal securities laws. These statements are based on management’s current expectations, plans, beliefs or forecasts for the future, and are subject to uncertainty and changes in circumstances. Any express or implied statements in this press release that are not statements of historical fact, including statements about the potential of Serina’s POZ polymer technology, are forward-looking statements that involve substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Risks and uncertainties include, among other things, the uncertainties inherent in research and development, including the ability to meet anticipated clinical endpoints, commencement and/or completion dates for clinical trials, regulatory submission dates, regulatory approval dates and/or launch dates, as well as the possibility of unfavorable new clinical data and further analyses of existing clinical data; the risk that clinical trial data are subject to differing interpretations and assessments by regulatory authorities; whether regulatory authorities will be satisfied with the design of and results from our clinical studies; whether and when any applications may be filed for any drug or vaccine candidates in any jurisdictions; whether and when regulatory authorities may approve any potential applications that may be filed for any drug or vaccine candidates in any jurisdictions, which will depend on a myriad of factors, including making a determination as to whether the product’s benefits outweigh its known risks and determination of the product’s efficacy and, if approved, whether any such drug or vaccine candidates will be commercially successful; decisions by regulatory authorities impacting labeling, manufacturing processes, safety and/or other matters that could affect the availability or commercial potential of any drug or vaccine candidates; and competitive developments. These risks as well as other risks are more fully discussed in Serina’s Annual Report on Form 10-K for the year ended December 31, 2023, Serina’s Current Report on Form 8-K that was filed with the SEC on April 1, 2024, and Serina’s other periodic reports and documents filed from time to time with the SEC.
The information contained in this release is as of the date hereof, and Serina assumes no obligation to update forward-looking statements contained in this release as the result of new information or future events or developments.
For inquiries, please contact:
Investor.relations@serinatherapeutics.com
(256) 327-9630
FAQ
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