UNITY Biotechnology Reports Granting of New Employment Inducement Award

Rhea-AI Summary

UNITY Biotechnology, Inc. (NASDAQ: UBX) has announced the grant of a stock-based award covering 2,750 shares to a new employee from January 18 to February 1, 2022. This award, part of the UNITY 2020 Employment Inducement Incentive Plan, aims to incentivize newly hired employees according to Nasdaq rules. UNITY focuses on developing therapeutics to combat age-related diseases by targeting senescent cells, with current efforts in ophthalmologic and neurologic conditions.

Positive

• Granting of 2,750 shares of common stock to new employee enhances talent acquisition strategy.
• Alignment with Nasdaq rules strengthens corporate governance.

Negative

• None.

SOUTH SAN FRANCISCO, Calif., Feb. 02, 2022 (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 18, 2022, through February 1, 2022, the Compensation Committee of the Board of Directors (the “Board”) granted a new employee a stock-based award covering an aggregate of 2,750 shares of UNITY common stock, including options to purchase an aggregate of 2,750 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.

Contact
Canale Communications
Jason Spark
Jason.spark@canalecomm.com

FAQ

What stock-based award did UNITY Biotechnology grant recently?

UNITY Biotechnology granted a stock-based award covering 2,750 shares to a new employee from January 18, 2022, to February 1, 2022.

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

The award is part of the UNITY 2020 Employment Inducement Incentive Plan to attract new employees.

Which NASDAQ rule is relevant to UNITY Biotechnology's stock award?

The stock award is granted in accordance with Nasdaq Stock Market Rule 5635(c)(4).

What is UNITY Biotechnology's focus in therapeutics?

UNITY is focused on developing therapies to slow, halt, or reverse diseases of aging.