Solid Biosciences Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Solid Biosciences has announced the grant of 11,847 restricted stock units (RSUs) to a new employee. The RSUs will vest over four years, with equal installments on each anniversary of the grant date. This grant is part of the 2024 Inducement Stock Incentive Plan and aims to encourage the new hire's long-term commitment to the company. The grant complies with Nasdaq Listing Rule 5635(c)(4).

Positive

• The grant of 11,847 RSUs to a new employee is part of the company's strategy to attract and retain talent.
• The vesting over four years indicates a commitment to long-term growth and employee retention.

Negative

• The issuance of new RSUs dilutes existing shareholders' equity.

CHARLESTOWN, Mass., July 01, 2024 (GLOBE NEWSWIRE) -- Solid Biosciences Inc. (Nasdaq: SLDB) (the “Company”), a life sciences company developing precision genetic medicines for neuromuscular and cardiac diseases, today announced a grant of 11,847 restricted stock units (“RSUs”) to one newly hired employee.

The RSUs vest in four equal installments on each one-year anniversary of the grant date until the fourth anniversary of the grant date. Vesting of the equity awards is subject to the employee’s continued service with the Company through each applicable vesting date.

This grant was made pursuant to the Company’s 2024 Inducement Stock Incentive Plan and was made as an inducement material to the employee’s acceptance of employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).

About Solid Biosciences
Solid Biosciences is a life sciences company focused on advancing a portfolio of gene therapy candidates including SGT-003 for the treatment of Duchenne muscular dystrophy (Duchenne), SGT-501 for the treatment of catecholaminergic polymorphic ventricular tachycardia (CPVT), AVB-401 for the treatment of BAG3-mediated dilated cardiomyopathy, and additional assets for the treatment of fatal cardiac diseases. Solid is advancing its diverse pipeline across rare neuromuscular and cardiac diseases, bringing together experts in science, technology, disease management, and care. Patient-focused and founded by those directly impacted, Solid’s mandate is to improve the daily lives of patients living with these devastating diseases. For more information, please visit www.solidbio.com.

Solid Biosciences Investor Contact:
Nicole Anderson
Director, Investor Relations and Corporate Communications
Solid Biosciences Inc.
investors@solidbio.com

Media Contact:
Glenn Silver
FINN Partners
glenn.silver@finnpartners.com

FAQ

What did Solid Biosciences announce on July 1, 2024?

Solid Biosciences announced the grant of 11,847 restricted stock units (RSUs) to a newly hired employee.

What is the vesting schedule for the RSUs granted by Solid Biosciences?

The RSUs will vest in four equal installments on each one-year anniversary of the grant date until the fourth anniversary.

Why did Solid Biosciences issue RSUs to a new employee?

The RSUs were issued as an inducement material to the employee's acceptance of employment, in line with Nasdaq Listing Rule 5635(c)(4).

Under what plan were the RSUs granted by Solid Biosciences?

The RSUs were granted under the company's 2024 Inducement Stock Incentive Plan.

What is the stock symbol for Solid Biosciences?

The stock symbol for Solid Biosciences is SLDB.