Translate Bio Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

On March 1, 2021, Translate Bio (Nasdaq: TBIO) announced the grant of non-qualified stock options for 54,250 shares to seven new employees. This move, part of the 2021 Inducement Stock Incentive Plan, is intended to incentivize staff acceptance of employment. The options carry an exercise price of $23.80 per share, matching the closing stock price on the same day, with a vesting schedule over four years. Translate Bio focuses on mRNA therapeutics, particularly in treating pulmonary diseases and developing mRNA vaccines through a collaboration with Sanofi Pasteur.

Positive

• The company incentivizes new hires with stock options, potentially enhancing employee retention.
• Stock options are priced at the current market value, demonstrating alignment with shareholder interests.

Negative

• None.

LEXINGTON, Mass., March 03, 2021 (GLOBE NEWSWIRE) -- Translate Bio (Nasdaq: TBIO), a clinical-stage messenger RNA (mRNA) therapeutics company developing a new class of potentially transformative medicines to treat or prevent debilitating or life-threatening diseases, today reported that on March 1, 2021, the Company granted non-qualified stock options to purchase an aggregate of 54,250 shares of the Company’s common stock to seven newly hired employees. These grants were made pursuant to the Company’s 2021 Inducement Stock Incentive Plan, were approved by the Company’s Inducement Grant Subcommittee of the board of directors, and were made as a material inducement to each employee’s acceptance of employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4) as a component of his or her employment compensation.

The stock options have an exercise price of $23.80 per share, equal to the closing price of Translate Bio’s common stock on March 1, 2021. Each stock option has a ten year term and vests over four years, with 25% of the shares underlying the option vesting on March 1, 2022 and in thirty-six equal monthly installments thereafter as to the remaining shares. The vesting of each grant is subject to the employee’s continued service with the Company through the applicable vesting date. The inducement grants are subject to the terms and conditions of award agreements covering the grants and the Company’s 2021 Inducement Stock Incentive Plan.

About Translate Bio
Translate Bio is a clinical-stage mRNA therapeutics company developing a new class of potentially transformative medicines to treat diseases caused by protein or gene dysfunction, or to prevent infectious diseases by generating protective immunity. Translate Bio is primarily focused on applying its technology to treat pulmonary diseases with a lead pulmonary candidate being evaluated as an inhaled treatment for cystic fibrosis (CF) in a Phase 1/2 clinical trial. Additional pulmonary diseases are being evaluated in discovery-stage research programs that utilize a proprietary lung delivery platform. Translate Bio also believes that its technology may apply broadly to a wide range of diseases, including diseases that affect the liver. Translate Bio is also pursuing the development of mRNA vaccines for infectious diseases under a collaboration with Sanofi Pasteur.

Investor Relations	Media Relations
Teri Dahlman	Maura Gavaghan
Tel.: +1 (617) 817-8655	Tel: +1 (617) 233-1154
tdahlman@translate.bio	mgavaghan@translate.bio

FAQ

What does Translate Bio (TBIO) do?

Translate Bio specializes in developing mRNA therapeutics aimed at treating pulmonary diseases and infectious diseases.

What are the details of the stock options granted by Translate Bio?

On March 1, 2021, Translate Bio granted stock options for 54,250 shares at an exercise price of $23.80, vesting over four years.

How do the stock options affect Translate Bio's employees?

The stock options serve as a material inducement for new hires, potentially increasing employee commitment and performance.

Is Translate Bio engaged in any collaborations?

Yes, Translate Bio is collaborating with Sanofi Pasteur to develop mRNA vaccines for infectious diseases.

What is the vesting schedule for the stock options at Translate Bio?

The options vest over four years, with 25% vesting on March 1, 2022, followed by monthly installments.