STOCK TITAN

Solid Biosciences Reports Inducement Grant to New Senior Vice President, Finance

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary

Solid Biosciences Inc. (Nasdaq: SLDB) has announced the grant of inducement awards to its new Senior Vice President of Finance, Michael Inbar. This decision was approved by independent directors on July 27, 2021. The inducement grant includes options to purchase 118,000 shares of common stock and restricted stock units for 59,000 shares, both vesting over four years. The options have a ten-year term with an exercise price set at $2.51 per share, reflecting the closing price on August 16, 2021.

Positive
  • Inducement awards granted to attract a key finance executive.
  • Options to purchase 118,000 shares enhances executive alignment with shareholder interests.
Negative
  • None.

CAMBRIDGE, Mass., Aug. 19, 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 inducement awards to its newly appointed Senior Vice President, Finance, Michael Inbar. The grant was approved by a majority of the independent directors of the Company on July 27, 2021 as an inducement material to Mr. Inbar entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).

The inducement grant to Mr. Inbar consisted of an option to purchase up to 118,000 shares of common stock and a restricted stock unit award with respect to 59,000 shares of common stock. The option has a ten-year term and an exercise price of $2.51 per share, the closing price per share of Solid Biosciences’ common stock as reported by Nasdaq on August 16, 2021. The option and restricted stock unit award each vest in four equal installments on each one-year anniversary of Mr. Inbar’s employment start date until the fourth anniversary of Mr. Inbar’s start date, subject to Mr. Inbar’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:
Caitlin Lowie
Solid Biosciences
607-423-3219
Clowie@solidbio.com

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

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


FAQ

What is the purpose of the inducement awards granted to Michael Inbar at Solid Biosciences?

The inducement awards aim to attract Michael Inbar as a key executive, aligning his interests with shareholders.

How many shares were included in the inducement grant for Michael Inbar?

The inducement grant included an option to purchase up to 118,000 shares and restricted stock units for 59,000 shares.

What is the exercise price of the stock options granted to Michael Inbar?

The exercise price of the stock options is set at $2.51 per share.

When were the inducement grants to Michael Inbar approved?

The inducement grants were approved on July 27, 2021.

How long is the term for the stock options granted to Michael Inbar?

The stock options granted have a ten-year term.

Solid Biosciences Inc.

NASDAQ:SLDB

SLDB Rankings

SLDB Latest News

SLDB Stock Data

160.22M
32.71M
0.91%
90.08%
3.81%
Biotechnology
Biological Products, (no Disgnostic Substances)
Link
United States of America
CHARLESTOWN