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

Rhea-AI Summary

Translate Bio (Nasdaq: TBIO) announced the grant of 201,800 non-qualified stock options to Brendan Smith, its new CFO, on April 19, 2021. This grant is part of the 2021 Inducement Stock Incentive Plan and aligns with Nasdaq Listing Rule 5635(c)(4). The exercise price is set at $19.23 per share, equal to the closing stock price on that date. The options have a 10-year term with a four-year vesting schedule. Translate Bio focuses on developing mRNA therapeutics for various diseases, including a candidate for cystic fibrosis currently in clinical trials.

Positive

• Granting of stock options aligns interests of new CFO with shareholders.
• Options exercise price matches the closing stock price, indicating no immediate dilution.

Negative

• None.

LEXINGTON, Mass., April 20, 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 April 19, 2021, the Company granted non-qualified stock options to purchase an aggregate of 201,800 shares of the Company’s common stock to Brendan Smith, the newly hired Chief Financial Officer of Translate Bio. These grants were made pursuant to the Company’s 2021 Inducement Stock Incentive Plan, were approved by the Company’s board of directors, and were made as a material inducement to his acceptance of employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4) as a component of his employment compensation.

The stock options have an exercise price of $19.23 per share, equal to the closing price of Translate Bio’s common stock on April 19, 2021. Each stock option has a ten year term and vests over four years, with 25% of the shares underlying the option vesting on April 19, 2022 and in thirty-six equal monthly installments thereafter as to the remaining shares. The vesting of each grant is subject to Brendan Smith’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 its technology may apply broadly to a wide range of diseases, including diseases that affect the liver. Additionally, the platform may be applied to various classes of treatments, such as therapeutic antibodies or protein degradation. Translate Bio is also pursuing the development of mRNA vaccines for infectious diseases under a collaboration with Sanofi Pasteur. For more information about the Company, please visit www.translate.bio or on Twitter at @TranslateBio.

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 stock options were granted by Translate Bio on April 19, 2021?

Translate Bio granted non-qualified stock options to purchase 201,800 shares to Brendan Smith, the new CFO.

What is the exercise price for the stock options granted by TBIO?

The exercise price for the stock options is $19.23 per share.

How long is the vesting period for the stock options granted to TBIO's CFO?

The stock options vest over four years, with 25% vesting on April 19, 2022.

What is the significance of the stock options grant for Translate Bio's CFO?

The stock options grant is a material inducement for Brendan Smith's acceptance of employment and aims to align his interests with shareholders.

What is Translate Bio's main focus in its therapeutic developments?

Translate Bio focuses on developing mRNA therapeutics to treat pulmonary diseases and prevent infectious diseases.