UNITY Biotechnology Reports Granting of New Employment Inducement Awards

Rhea-AI Summary

UNITY Biotechnology announced the grant of stock-based awards to 3 new employees, totaling 41,900 shares of its common stock, from July 13 to July 27, 2021. These awards were granted under the UNITY 2020 Employment Inducement Incentive Plan, which aims to attract new talent as a material inducement for employment, in compliance with Nasdaq rules. The company focuses on developing therapeutics aimed at aging-related diseases, particularly targeting senescent cells to benefit age-related ophthalmologic and neurologic conditions.

Positive

• UNITY granted stock-based awards covering 41,900 shares to attract new employees.
• The plan is in compliance with Nasdaq rules, suggesting regulatory approval.

Negative

• None.

SOUTH SAN FRANCISCO, Calif., July 28, 2021 (GLOBE NEWSWIRE) -- UNITY Biotechnology, Inc. (“UNITY”) [NASDAQ: UBX], a biotechnology company developing therapeutics to slow, halt, or reverse diseases of aging, today announced that from July 13, 2021, through July 27, 2021, the Compensation Committee of the Board of Directors (the “Board”) granted 3 new employees stock-based awards covering an aggregate of 41,900 shares of UNITY common stock, including options to purchase an aggregate of 41,900 shares of UNITY common stock. The stock-based awards were granted pursuant to the UNITY 2020 Employment Inducement Incentive Plan, as amended, which was approved by the Board in March 2020 to provide for grants to newly hired employees as a material inducement for them to commence employment with UNITY in accordance with Nasdaq Stock Market Rule 5635(c)(4).

About UNITY
UNITY is developing a new class of therapeutics to slow, halt or reverse diseases of aging. UNITY’s current focus is on creating medicines to selectively eliminate or modulate senescent cells and thereby provide transformative benefit in age-related ophthalmologic and neurologic diseases. More information is available at www.unitybiotechnology.com or follow us on Twitter and LinkedIn.

FAQ

What stock-based awards did UNITY grant recently?

UNITY granted stock-based awards covering 41,900 shares to 3 new employees from July 13 to July 27, 2021.

What is the purpose of the UNITY 2020 Employment Inducement Incentive Plan?

The plan aims to provide stock-based awards as a material inducement to attract new employees.

How many shares were granted in the recent award by UNITY?

A total of 41,900 shares of common stock were granted.

What is the focus of UNITY Biotechnology?

UNITY focuses on developing therapeutics to slow, halt, or reverse age-related diseases.

When was the stock-based award granted by UNITY?

The awards were granted between July 13 and July 27, 2021.