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 238,200 shares to fifteen new employees, effective June 7, 2021. This initiative is part of the 2021 Inducement Stock Incentive Plan and aims to attract talent. The options have an exercise price of $19.12, aligned with the stock's closing price on the grant date. Vested over four years, these options require continued employment for vesting. Translate Bio focuses on mRNA therapeutics, especially for pulmonary diseases like cystic fibrosis and is collaborating on mRNA vaccines with Sanofi Pasteur.

Positive

• Granting stock options to new employees may enhance talent acquisition.
• Stock options linked to a competitive exercise price could incentivize long-term employee retention.

Negative

• None.

LEXINGTON, Mass., June 09, 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 June 7, 2021, the Company granted non-qualified stock options to purchase an aggregate of 238,200 shares of the Company’s common stock to fifteen new 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 $19.12 per share, equal to the closing price of Translate Bio’s common stock on June 7, 2021. Each stock option has a ten year term and vests over four years, with 25% of the shares underlying the option vesting on June 7, 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 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 stock options were granted by Translate Bio?

Translate Bio granted non-qualified stock options to purchase 238,200 shares to fifteen new employees.

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

The exercise price of the stock options is $19.12 per share.

When will the stock options granted by Translate Bio vest?

The stock options will vest over four years, with 25% vesting on June 7, 2022, and the remainder vesting in equal monthly installments thereafter.

What is the purpose of the stock option grants by Translate Bio?

The grants are made to attract new employees as part of the 2021 Inducement Stock Incentive Plan.

What does Translate Bio focus on?

Translate Bio focuses on developing mRNA therapeutics for diseases caused by protein or gene dysfunction, including pulmonary diseases.