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

Rhea-AI Summary

Solid Biosciences Inc. grants inducement awards to two new employees as part of its 2024 Inducement Stock Incentive Plan. The awards consist of 17,090 shares of common stock, vesting in four equal installments annually over four years.

CHARLESTOWN, Mass., April 03, 2024 (GLOBE NEWSWIRE) -- Solid Biosciences Inc. (Nasdaq: SLDB), a life sciences company developing precision genetic medicines for neuromuscular and cardiac diseases, today announced the grant of inducement awards to two newly hired employees. 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).

The Company granted restricted stock unit awards with respect to an aggregate of 17,090 shares of its common stock to two new employees. The restricted stock unit awards 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 the applicable vesting dates.

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 is the purpose of the grants announced by Solid Biosciences Inc. (SLDB)?

Solid Biosciences Inc. granted inducement awards to two newly hired employees as part of its 2024 Inducement Stock Incentive Plan.

How many shares of common stock were included in the awards?

The grants consisted of 17,090 shares of Solid Biosciences Inc.'s common stock.

How will the restricted stock unit awards vest?

The restricted stock unit awards will vest in four equal installments on each one-year anniversary of the employee's start date until the fourth anniversary.

What is the requirement for vesting the equity awards?

Vesting of the equity awards is contingent on the employee's continued service with Solid Biosciences Inc. through the designated vesting dates.