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

Rhea-AI Summary

Solid Biosciences, a life sciences company developing genetic medicines for neuromuscular and cardiac diseases, announced the issuance of 30,949 restricted stock units (RSUs) to four newly hired employees. These RSUs will vest in equal installments over four years, contingent on continued service. The grants were made under the 2024 Inducement Stock Incentive Plan, following Nasdaq Listing Rule 5635(c)(4).

Positive

• Solid Biosciences is expanding its workforce, indicating growth.
• The inducement grants may help attract top talent, enhancing company capabilities.

Negative

• Issuing 30,949 RSUs can lead to shareholder dilution.
• Continued service requirement for vesting may create retention challenges.

CHARLESTOWN, Mass., June 04, 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 grants of 30,949 restricted stock units (“RSUs”) to four newly hired employees.

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

These grants were made pursuant to the Company’s 2024 Inducement Stock Incentive Plan and were made as an inducement material to each 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:
investors@solidbio.com

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

FAQ

What did Solid Biosciences announce on June 04, 2024?

Solid Biosciences announced the issuance of 30,949 restricted stock units to four new employees.

What is the stock symbol for Solid Biosciences?

The stock symbol for Solid Biosciences is SLDB.

What are the vesting conditions for the RSUs granted by Solid Biosciences?

The RSUs vest in four equal installments on the yearly anniversary of the employee's start date, contingent on continued service.

Under which plan were the RSUs granted by Solid Biosciences?

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

Why did Solid Biosciences issue these RSUs?

The RSUs were issued as an inducement for employment, in line with Nasdaq Listing Rule 5635(c)(4).