UNITY Biotechnology Reports Granting of New Employment Inducement Awards

Rhea-AI Summary

UNITY Biotechnology, Inc. (NASDAQ: UBX) announced the grant of stock-based awards covering 103,000 shares of common stock to two new employees from December 1 to December 15, 2020. These awards were made under the 2020 Employment Inducement Incentive Plan, approved by the Board in March 2020, aimed at attracting new talent. UNITY focuses on developing therapeutics to address aging-related diseases, particularly targeting senescent cells.

Positive

• The grant of 103,000 stock-based awards indicates active recruitment and growth in the company's workforce.
• The use of the 2020 Employment Inducement Incentive Plan reflects a strategic move to attract skilled employees.

Negative

• None.

SOUTH SAN FRANCISCO, Calif., Dec. 16, 2020 (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 December 1, 2020 through December 15, 2020, the Board of Directors (the “Board”) granted 2 new employees stock-based awards covering an aggregate of 103,000 shares of UNITY common stock, including options to purchase an aggregate of 103,000 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 awards did UNITY Biotechnology grant in December 2020?

UNITY Biotechnology granted stock-based awards covering 103,000 shares of common stock to two new employees between December 1 and December 15, 2020.

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

The 2020 Employment Inducement Incentive Plan is designed to provide stock-based awards to attract new employees to UNITY Biotechnology.

How does UNITY's stock performance relate to its employee stock grants?

Stock grants, such as those made by UNITY Biotechnology, can impact investor perception positively as they indicate company growth and recruitment efforts.

When was the 2020 Employment Inducement Incentive Plan approved?

The 2020 Employment Inducement Incentive Plan was approved by the Board in March 2020.