Solid Biosciences Reports Inducement Grant to New Senior Vice President, Human Resources

Rhea-AI Summary

Solid Biosciences (Nasdaq: SLDB) announced inducement awards for its new Senior VP of Human Resources, Allison Bogosian. The board approved the grants on November 18, 2021, to incentivize her employment under Nasdaq rules. The inducement includes an option for 131,400 shares at an exercise price of $1.78, alongside a restricted stock unit award for 65,700 shares. Both awards vest in four equal annual installments over four years, contingent on Bogosian's continued service.

Positive

• Appointment of a new Senior VP, potentially enhancing HR capabilities.
• Inducement awards may attract and retain talent, fostering company growth.

Negative

• None.

CAMBRIDGE, Mass., Jan. 04, 2022 (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 inducement awards to its newly appointed Senior Vice President, Human Resources, Allison Bogosian. The grant was approved by a majority of the independent directors of the Company on November 18, 2021 as an inducement material to Ms. Bogosian entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).

The inducement grant to Ms. Bogosian consisted of an option to purchase up to 131,400 shares of common stock and a restricted stock unit award with respect to 65,700 shares of common stock. The option has a ten-year term and an exercise price of $1.78 per share, the closing price per share of Solid Biosciences’ common stock as reported by Nasdaq on January 3, 2022. The option and restricted stock unit award each vest in four equal installments on each one-year anniversary of Ms. Bogosian’s employment start date until the fourth anniversary of Ms. Bogosian’s start date, subject to Ms. Bogosian’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 Contact:
David Carey
FINN Partners
212-867-1768
David.Carey@finnpartners.com

Caitlin Lowie
Solid Biosciences
607-423-3219
clowie@solidbio.com

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

FAQ

What is Solid Biosciences' stock symbol?

The stock symbol for Solid Biosciences is SLDB.

When were the inducement awards for Allison Bogosian approved?

The inducement awards for Allison Bogosian were approved on November 18, 2021.

What is the exercise price of the stock options granted to Allison Bogosian?

The exercise price of the stock options granted to Allison Bogosian is $1.78 per share.

How many shares are included in the inducement awards for Allison Bogosian?

The inducement awards for Allison Bogosian include options for 131,400 shares and a restricted stock unit award for 65,700 shares.

How do the stock options for Allison Bogosian vest?

The stock options for Allison Bogosian vest in four equal installments on each one-year anniversary of her employment start date.