Savara Announces New Employment Inducement Grant

Rhea-AI Summary

Savara Inc. (Nasdaq: SVRA), a clinical stage biopharmaceutical company focused on rare respiratory diseases, has announced the grant of inducement awards to a new employee. The Compensation Committee of Savara's Board of Directors granted these awards on September 5, 2024, consisting of:

• Options to purchase 20,000 shares of the Company's common stock
• Restricted stock units (RSUs) covering 20,000 shares of the Company's common stock

The options have an exercise price of $4.54 per share, a 10-year term, and vest quarterly over 4 years. The RSUs vest in full after two years. These equity awards were granted under the Savara Inc. 2021 Inducement Equity Incentive Plan.

Positive

• Attraction of new talent with equity-based compensation
• Alignment of employee interests with company performance through stock options and RSUs

Negative

• Potential dilution of existing shareholders' equity

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

On September 5, 2024, the Compensation Committee of Savara's Board of Directors granted the inducement awards to a new employee who recently joined the Company. The inducement awards consist of options to purchase 20,000 shares of the Company’s common stock and restricted stock units (RSUs) covering 20,000 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 $4.54 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. The RSUs vest in full on the two-year anniversary of the employee’s first day of employment, subject to the employee’s continued employment on 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. (X, formerly known as Twitter: @SavaraPharma, LinkedIn: www.linkedin.com/company/savara-pharmaceuticals/).

View source version on businesswire.com: https://www.businesswire.com/news/home/20240906901036/en/

Savara Inc. IR & PR

Anne Erickson (anne.erickson@savarapharma.com)

(512) 851-1366

Source: Savara Inc.

FAQ

What inducement awards did Savara (SVRA) grant to a new employee on September 5, 2024?

Savara granted options to purchase 20,000 shares of common stock and restricted stock units (RSUs) covering 20,000 shares to a new employee on September 5, 2024.

What is the exercise price of the stock options granted by Savara (SVRA) in the inducement award?

The stock options granted as part of the inducement award have an exercise price of $4.54 per share, which was the closing price of Savara's common stock on the NASDAQ Global Market on the grant date.

How do the RSUs granted by Savara (SVRA) vest in the inducement award?

The restricted stock units (RSUs) granted as part of the inducement award vest in full on the two-year anniversary of the employee's first day of employment, subject to continued employment.

Under which plan were Savara's (SVRA) inducement awards granted?

The inducement awards were granted under the Savara Inc. 2021 Inducement Equity Incentive Plan pursuant to Rule 5635(c)(4) of the NASDAQ Listing Rules.