Travere Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

On August 10, 2022, Travere Therapeutics (NASDAQ: TVTX) announced the granting of inducement equity grants to 29 new employees, comprising 101,500 restricted stock units (RSUs). These RSUs are part of the company’s efforts to attract talent and are issued outside of the 2018 Equity Incentive Plan, in compliance with Nasdaq rules. The RSUs will vest over four years, with 25% vesting annually, contingent on the employees’ continued service.

Travere focuses on developing treatments for rare diseases, emphasizing their commitment to patient care and innovative therapies.

Positive

• Inducement of RSUs shows commitment to attracting and retaining talent.
• RSUs vesting over four years can enhance employee retention.

Negative

• None.

SAN DIEGO, Aug. 11, 2022 (GLOBE NEWSWIRE) -- Travere Therapeutics, Inc. (NASDAQ: TVTX) today announced that on August 10, 2022, the Compensation Committee of its Board of Directors granted inducement equity grants to 29 new employees, consisting of inducement restricted stock units, or RSUs, covering an aggregate of 101,500 shares of its common stock. These inducement RSUs are subject to the terms of Travere’s 2018 Equity Incentive Plan (“2018 Plan”), but were granted outside of the 2018 Plan and were granted as inducements material to the new employees entering into employment with Travere in accordance with Nasdaq Listing Rule 5635(c)(4).

The RSUs vest over four years, with 25% of the shares vesting on each anniversary of the grant date, subject to the new employee’s continued service relationship with Travere through the applicable vesting dates.

About Travere Therapeutics

At Travere Therapeutics, we are in rare for life. We are a biopharmaceutical company that comes together every day to help patients, families and caregivers of all backgrounds as they navigate life with a rare disease. On this path, we know the need for treatment options is urgent – that is why our global team works with the rare disease community to identify, develop and deliver life-changing therapies. In pursuit of this mission, we continuously seek to understand the diverse perspectives of rare patients and to courageously forge new paths to make a difference in their lives and provide hope – today and tomorrow. For more information, visit travere.com

Contact:
Chris Cline, CFA
Senior Vice President, Investor Relations & Corporate Communications
888-969-7879
IR@travere.com

FAQ

What stock symbol is associated with Travere Therapeutics?

The stock symbol for Travere Therapeutics is TVTX.

When were the equity grants announced by Travere Therapeutics?

The equity grants were announced on August 11, 2022.

How many shares were granted in the inducement equity grants at Travere?

A total of 101,500 shares were granted in the inducement equity grants.

What is the vesting schedule for the RSUs granted by Travere?

The RSUs vest over four years, with 25% vesting on each anniversary of the grant date.