UNITY Biotechnology Reports Granting of New Employment Inducement Award

Rhea-AI Summary

UNITY Biotechnology, Inc. (NASDAQ: UBX), a biotechnology firm focused on therapeutics that address aging-related diseases, disclosed that from January 3 to January 17, 2023, its Board's Compensation Committee granted a stock-based award of 900 shares to a new employee. This grant was made under the amended 2020 Employment Inducement Incentive Plan, aimed at attracting new talent in compliance with Nasdaq Rule 5635(c)(4). UNITY is currently working on therapies to target and eliminate senescent cells, with a focus on age-related ophthalmologic and neurologic diseases.

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• Stock-based award of 900 shares granted to a new employee, promoting talent acquisition.

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• None.

SOUTH SAN FRANCISCO, Calif., Jan. 18, 2023 (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 January 3, 2023, through January 17, 2023, the Compensation Committee of the Board of Directors (the “Board”) granted a new employee a stock-based award covering an aggregate of 900 shares of UNITY common stock, including options to purchase an aggregate of 900 shares of UNITY common stock. The stock-based award was 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.

Media Contact
Evoke Canale 
Jason Spark
jason.spark@evokegroup.com

Investor Contact 
LifeSci Advisors, LLC
Joyce Allaire
jallaire@lifesciadvisors.com

FAQ

What stock award did UNITY Biotechnology grant in January 2023?

UNITY Biotechnology granted a stock-based award covering an aggregate of 900 shares from January 3 to January 17, 2023.

What is the purpose of the stock-based award granted by UNITY?

The stock-based award aims to attract new employees as a material inducement in line with the 2020 Employment Inducement Incentive Plan.

Which stock exchange is UNITY Biotechnology listed on?

UNITY Biotechnology is listed on the NASDAQ under the ticker symbol UBX.

What type of therapeutics is UNITY Biotechnology developing?

UNITY is developing therapeutics aimed at slowing, halting, or reversing diseases associated with aging.