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

Rhea-AI Summary

On September 8, 2021, Translate Bio (Nasdaq: TBIO) announced the grant of 54,078 restricted stock units to twenty new employees under its 2021 Inducement Stock Incentive Plan. This decision, approved by the compensation committee, serves as an employment inducement and complies with Nasdaq Listing Rule 5635(c)(4). The restricted stock units will vest over four years, with 25% vesting by September 8, 2022, and the remainder in thirty-six monthly installments, contingent on continued employment. Translate Bio focuses on mRNA therapeutics, particularly for pulmonary diseases.

Positive

• Grant of 54,078 restricted stock units to attract new talent.
• Compliance with Nasdaq Listing Rule 5635(c)(4) enhances credibility.
• Long vesting period (four years) encourages employee retention and commitment.

Negative

• None.

LEXINGTON, Mass., Sept. 08, 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 September 8, 2021, the Company granted restricted stock units for an aggregate of 54,078 shares of the Company’s common stock to twenty new employees. These grants were made pursuant to the Company’s 2021 Inducement Stock Incentive Plan, were approved by the Company’s compensation committee 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.

Each restricted stock unit has a ten-year term and vests over four years, with 25% of the shares underlying the restricted stock unit vesting on or by September 8, 2022 and in thirty-six equal monthly installments thereafter as to the remaining shares. The vesting of each grant of restricted stock unit 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 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 and license agreement 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
tdahlman@translate.bio	mgavaghan@translate.bio

FAQ

What did Translate Bio announce on September 8, 2021?

Translate Bio announced the grant of 54,078 restricted stock units to twenty new employees as part of its 2021 Inducement Stock Incentive Plan.

How many shares did Translate Bio grant in the latest stock incentive plan?

Translate Bio granted a total of 54,078 shares under its 2021 Inducement Stock Incentive Plan.

What is the vesting schedule for the restricted stock units granted by Translate Bio?

The restricted stock units vest over four years, with 25% vesting by September 8, 2022, and the rest in thirty-six equal monthly installments thereafter.

What is the significance of the grants under Nasdaq Listing Rule 5635(c)(4)?

The grants were made as a material inducement for new employees' acceptance of employment, complying with Nasdaq regulations.

What is the focus of Translate Bio's research and development?

Translate Bio focuses on developing mRNA therapeutics for diseases related to protein or gene dysfunction, particularly targeting pulmonary diseases.