Savara Announces New Employment Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)

AUSTIN, Texas--(BUSINESS WIRE)-- Savara Inc. (Nasdaq: SVRA), a clinical stage biopharmaceutical company focused on rare respiratory diseases, today announced the grant of inducement awards to five new employees.

On December 1, 2021, the Compensation Committee of Savara's Board of Directors granted inducement awards to five new employees who recently joined the Company. The inducement awards consist of options to purchase an aggregate of 280,000 shares of the Company's common stock. These equity awards were granted under the Savara Inc. 2021 Inducement Equity Incentive Plan pursuant to Rule 5635(c)(4) of the NASDAQ Listing Rules as an inducement material to the employee’s acceptance of employment with the Company.

The options have an exercise price of $1.08 per share, the closing trading price of the Company's common stock on the NASDAQ Global Market on the grant date. Each option has a 10-year term and vests as to 1/16^th of the number of shares subject to the option on each quarterly anniversary of the employee’s first day of employment, subject to the employee’s continued employment on each such vesting date.

About Savara

Savara is a clinical stage biopharmaceutical company focused on rare respiratory diseases. Our lead program, molgramostim nebulizer solution, is an inhaled granulocyte-macrophage colony-stimulating factor (GM-CSF) in Phase 3 development for autoimmune pulmonary alveolar proteinosis (aPAP). Molgramostim is delivered via an investigational eFlow^® Nebulizer System (PARI Pharma GmbH). Our management team has significant experience in rare respiratory diseases and pulmonary medicine, identifying unmet needs, and effectively advancing product candidates to approval and commercialization. More information can be found at www.savarapharma.com. (Twitter: @SavaraPharma, LinkedIn: www.linkedin.com/company/savara-pharmaceuticals/).

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Savara Inc. IR & PR

Anne Erickson (anne.erickson@savarapharma.com)

(512) 851-1366

Source: Savara Inc.

FAQ

What are the inducement awards granted by Savara Inc.?

Savara Inc. granted inducement awards consisting of options to purchase 280,000 shares of common stock to five new employees.

What is the exercise price of the options granted by Savara Inc.?

The options have an exercise price of $1.08 per share.

How long are the options granted to new employees at Savara Inc. valid?

The options have a 10-year term.

What is Savara Inc. focused on?

Savara Inc. is focused on developing treatments for rare respiratory diseases.

What is the lead program of Savara Inc.?

Savara's lead program is the molgramostim nebulizer solution, currently in Phase 3 development for autoimmune pulmonary alveolar proteinosis.