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

Rhea-AI Summary

Translate Bio (NASDAQ: TBIO) announced the granting of non-qualified stock options for 111,800 shares to 14 newly hired employees as part of its 2021 Inducement Stock Incentive Plan. The options have an exercise price of $16.82, equal to the stock's closing price on April 5, 2021. These options vest over four years, with 25% vesting on April 5, 2022. This initiative aims to attract talent while adhering to Nasdaq Listing Rule 5635(c)(4). Translate Bio focuses on developing mRNA therapeutics to treat pulmonary diseases and collaborate on mRNA vaccines for infectious diseases.

Positive

• Granting stock options may enhance employee retention and attract talent.
• Stock options granted at market price ($16.82) reflect positive stock market perception.

Negative

• The issuance of stock options could cause dilution of shares for existing shareholders.
• No immediate financial metrics or revenue impacts mentioned, indicating uncertainty about financial performance.

LEXINGTON, Mass., April 07, 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 5, 2021, the Company granted non-qualified stock options to purchase an aggregate of 111,800 shares of the Company’s common stock to fourteen 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 $16.82 per share, equal to the closing price of Translate Bio’s common stock on April 5, 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 5, 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 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.

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

FAQ

What is the significance of Translate Bio's stock options grant on April 5, 2021?

The stock options grant aims to attract and retain talent by providing a financial incentive tied to company performance.

How many stock options were granted to Translate Bio employees?

Translate Bio granted a total of 111,800 stock options to 14 newly hired employees.

What is the exercise price for the stock options granted by Translate Bio?

The exercise price for the stock options is $16.82 per share, matching the closing stock price on the grant date.

How do the stock options vest for Translate Bio employees?

The stock options vest over four years, with 25% vesting on April 5, 2022, and the remainder vesting in monthly installments.

What is Translate Bio's primary focus in its development efforts?

Translate Bio focuses on developing mRNA therapeutics for pulmonary diseases and mRNA vaccines for infectious diseases.