UNITY Biotechnology Reports Granting of New Employment Inducement Award

Rhea-AI Summary

UNITY Biotechnology, Inc. (NASDAQ: UBX) announced on December 22, 2021, that its Compensation Committee granted a stock-based award to a new employee from December 7 to December 21, 2021. This award includes options to purchase a total of 4,500 shares of UNITY common stock. The award follows the UNITY 2020 Employment Inducement Incentive Plan, which aims to attract new employees as per Nasdaq Rule 5635(c)(4).

UNITY focuses on developing therapeutics to combat age-related diseases, targeting senescent cells to improve health outcomes in ophthalmologic and neurologic conditions.

Positive

• Stock-based award of 4,500 shares to attract new talent.
• Adherence to Nasdaq rules enhances corporate governance.

Negative

• None.

SOUTH SAN FRANCISCO, Calif., Dec. 22, 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 December 7, 2021, through December 21, 2021, the Compensation Committee of the Board of Directors (the “Board”) granted a new employee a stock-based award covering an aggregate of 4,500 shares of UNITY common stock, including options to purchase an aggregate of 4,500 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.

FAQ

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

The stock-based award aims to attract and incentivize a new employee as per the UNITY 2020 Employment Inducement Incentive Plan.

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

The recent stock award granted 4,500 shares of UNITY common stock.

What does UNITY Biotechnology focus on in its therapeutics development?

UNITY focuses on developing therapeutics to slow, halt, or reverse diseases of aging, particularly targeting senescent cells.

When was the stock award granted to the new employee at UNITY?

The stock award was granted from December 7, 2021, through December 21, 2021.