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

Rhea-AI Summary

Solid Biosciences (Nasdaq: SLDB), a company focused on developing precision genetic medicines for neuromuscular and cardiac diseases, announced on January 6, 2025, the grant of 11,847 restricted stock units (RSUs) to a newly hired employee.

The RSUs will vest in four equal installments on each one-year anniversary of the grant date, provided the employee continues to serve with the company through each vesting date. This grant was made under the company's 2024 Inducement Stock Incentive Plan and complies with Nasdaq Listing Rule 5635(c)(4).

Positive

• Grant of 11,847 RSUs to a new employee, potentially improving employee retention and motivation.

Negative

• The RSUs vest over four years, requiring the employee's continued service, which may pose a risk if the employee leaves before full vesting.

CHARLESTOWN, Mass., Jan. 06, 2025 (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), SGT-601 for the treatment of TNNT2-mediated dilated cardiomyopathy, SGT-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 does the SLDB RSU grant mean for shareholders?

The grant of 11,847 RSUs to a new employee aims to enhance retention and motivation, potentially benefiting company performance and shareholder value.

When will the SLDB RSUs vest?

The RSUs will vest in four equal installments on each one-year anniversary of the grant date, contingent on the employee's continued service.

What is the significance of Nasdaq Listing Rule 5635(c)(4) in SLDB's grant?

Nasdaq Listing Rule 5635(c)(4) allows the grant of equity awards as an inducement material to a new employee's acceptance of employment, ensuring compliance with regulatory standards.

How many RSUs did SLDB grant to the new employee?

SLDB granted 11,847 restricted stock units (RSUs) to the new employee.

What is the purpose of SLDB's 2024 Inducement Stock Incentive Plan?

The 2024 Inducement Stock Incentive Plan aims to attract and retain talent by offering equity awards as a material inducement to new employees.