Taysha Gene Therapies Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Taysha Gene Therapies, Inc. (Nasdaq: TSHA) announced the granting of 257,700 shares of common stock to Meredith Schultz, M.D., M.S., as an inducement for her employment as the new Senior Vice President, Clinical Development and Medical Affairs. The stock option has an exercise price of $1.71 per share, with a 10-year term and will vest over four years. This announcement was made in accordance with Nasdaq Listing Rule 5635(c)(4).

DALLAS, Jan. 05, 2024 (GLOBE NEWSWIRE) -- Taysha Gene Therapies, Inc. (Nasdaq: TSHA), a clinical-stage gene therapy company focused on developing and commercializing AAV-based gene therapies for the treatment of monogenic diseases of the central nervous system (CNS), today announced that, on January 2, 2024, Taysha's Board of Directors granted Meredith Schultz, M.D., M.S., an option to purchase 257,700 shares of the Company's common stock in connection with her employment as Taysha’s new Senior Vice President, Clinical Development and Medical Affairs. The stock option was granted under the Taysha Gene Therapies, Inc. 2023 Inducement Plan as an inducement material to Ms. Schultz entering into employment with Taysha in accordance with Nasdaq Listing Rule 5635(c)(4).

The stock option has an exercise price of $1.71 per share, which is equal to the closing price of Taysha's common stock on the date of grant. The stock option has a 10-year term and will vest over four years, with 25% of the option vesting on the first anniversary of the vesting commencement date and the remaining 75% of the option vesting in equal monthly installments over the 36 months thereafter. Vesting of the stock option is subject to such employee's continued service to Taysha on each vesting date.

About Taysha Gene Therapies
Taysha Gene Therapies (Nasdaq: TSHA) is on a mission to eradicate monogenic CNS disease. With a singular focus on developing curative medicines, we aim to rapidly translate our treatments from bench to bedside. We have combined our team’s proven experience in gene therapy drug development and commercialization with the world-class UT Southwestern Gene Therapy Program. Together, we leverage our fully integrated platform with a goal of dramatically improving patients’ lives. More information is available at www.tayshagtx.com.

Company Contact:
Hayleigh Collins
Director, Head of Corporate Communications and Investor Relations
Taysha Gene Therapies, Inc.
hcollins@tayshagtx.com

Media Contact:
Carolyn Hawley
Canale Communications
carolyn.hawley@canalecomm.com

FAQ

What did Taysha Gene Therapies announce?

Taysha Gene Therapies announced the granting of 257,700 shares of common stock to Meredith Schultz, M.D., M.S., as an inducement for her employment as the new Senior Vice President, Clinical Development and Medical Affairs.

What is the ticker symbol for Taysha Gene Therapies?

The ticker symbol for Taysha Gene Therapies is TSHA.

What is the exercise price of the stock option granted to Meredith Schultz?

The exercise price of the stock option is $1.71 per share.

How long is the term of the stock option?

The stock option has a 10-year term.

How will the stock option vest?

The stock option will vest over four years, with 25% vesting on the first anniversary and the remaining 75% vesting in equal monthly installments over 36 months.

What is the purpose of the stock option grant?

The stock option grant was made as an inducement for Ms. Schultz entering into employment with Taysha in accordance with Nasdaq Listing Rule 5635(c)(4).