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

Rhea-AI Summary

On October 10, 2022, Travere Therapeutics (NASDAQ: TVTX) announced the granting of inducement equity grants to seven new employees. These inducement restricted stock units (RSUs) cover a total of 25,750 shares of common stock and are part of Travere's 2018 Equity Incentive Plan. The RSUs will vest over four years, with 25% vesting on each anniversary of the grant date, contingent upon the employees' continued service. This move aligns with Nasdaq Listing Rule 5635(c)(4), aimed at attracting talent essential for the company's operations.

Positive

• Inducement equity grants of 25,750 RSUs to seven new employees demonstrate a commitment to talent acquisition.
• RSUs vesting over four years encourages long-term employee retention.

Negative

• None.

SAN DIEGO, Oct. 11, 2022 (GLOBE NEWSWIRE) -- Travere Therapeutics, Inc. (NASDAQ: TVTX) today announced that on October 10, 2022, the Compensation Committee of its Board of Directors granted inducement equity grants to seven new employees, consisting of inducement restricted stock units, or RSUs, covering an aggregate of 25,750 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:
Investor Relations
888-969-7879                                                 
IR@travere.com                                            

 

 

 

 

 

 

 

 

 

FAQ

What are the recent stock grants made by Travere Therapeutics (TVTX)?

On October 10, 2022, Travere Therapeutics granted inducement equity grants consisting of 25,750 RSUs to seven new employees.

How many shares were granted to new employees at Travere (TVTX)?

Travere Therapeutics granted a total of 25,750 shares in the form of inducement RSUs to new hires.

What is the vesting schedule for the RSUs granted by Travere Therapeutics (TVTX)?

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

Why did Travere Therapeutics (TVTX) issue inducement RSUs?

The inducement RSUs were granted as a material inducement for the new employees to join Travere, in accordance with Nasdaq regulations.