Solid Biosciences Reports Inducement Grant to New Chief Regulatory Officer

Rhea-AI Summary

Solid Biosciences (Nasdaq: SLDB) has announced the grant of an inducement award to Dr. Iman Barilero, the newly appointed Chief Regulatory Officer. This award consists of an option to purchase 180,000 shares at an exercise price of $3.75 per share, based on the closing stock price as of June 1, 2021. The option vests in four equal installments over four years, contingent upon Dr. Barilero's ongoing service with the company. Solid Biosciences focuses on developing therapies for Duchenne muscular dystrophy, targeting the underlying genetic mutation with its lead candidate, SGT-001.

Positive

• Inducement grant to Dr. Iman Barilero could strengthen leadership in regulatory affairs.
• Award of options for 180,000 shares aligns with performance incentives.

Negative

• None.

CAMBRIDGE, Mass., June 07, 2021 (GLOBE NEWSWIRE) -- Solid Biosciences Inc. (Nasdaq: SLDB), a life sciences company focused on advancing meaningful therapies for Duchenne muscular dystrophy (Duchenne), today announced the grant of an inducement award to its newly appointed Chief Regulatory Officer, Dr. Iman Barilero. The grant was approved by a majority of the independent directors of the Company on May 5, 2021 as an inducement material to Dr. Barilero entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).

The inducement grant to Dr. Barilero consisted of an option to purchase up to 180,000 shares of common stock. The option has an exercise price of $3.75 per share, the closing price per share of Solid Biosciences’ common stock as reported by Nasdaq on June 1, 2021. The option has a ten-year term and vests in four equal installments on each one-year anniversary of Dr. Barilero’s employment start date until the fourth anniversary of Dr. Barilero’s start date, subject to Dr. Barilero’s continued service with the Company through the applicable vesting dates.

About Solid Biosciences

Solid Biosciences is a life sciences company focused on advancing transformative treatments to improve the lives of patients living with Duchenne. Disease-focused and founded by a family directly impacted by Duchenne, our mandate is simple yet comprehensive – work to address the disease at its core by correcting the underlying mutation that causes Duchenne with our lead gene therapy candidate, SGT-001. For more information, please visit www.solidbio.com.

Investor Contacts:
David Carey
FINN Partners
212-867-1768
David.Carey@finnpartners.com

Caitlin Lowie
Solid Biosciences
607-423-3219
Clowie@solidbiosciences.com

Media Contact:
Erich Sandoval
FINN Partners
917-497-2867
Erich.Sandoval@finnpartners.com

FAQ

What is the inducement award granted to Dr. Iman Barilero by Solid Biosciences?

Dr. Iman Barilero received an inducement award consisting of an option to purchase 180,000 shares at an exercise price of $3.75 per share.

When was the inducement grant approved for Dr. Barilero?

The inducement grant was approved on May 5, 2021.

What is the purpose of the inducement award for Dr. Barilero?

The inductive award is meant to attract Dr. Barilero to join Solid Biosciences as Chief Regulatory Officer.

How does the stock option for Dr. Barilero vest?

The stock option vests in four equal installments on each one-year anniversary of his employment start date.