UNITY Biotechnology Reports Granting of New Employment Inducement Awards

Rhea-AI Summary

UNITY Biotechnology, Inc. (NASDAQ: UBX) granted stock-based awards totaling 19,000 shares to five new employees between February 9 and February 23, 2021. These awards were part of the UNITY 2020 Employment Inducement Incentive Plan, aimed at attracting new talent in accordance with Nasdaq rules. This initiative reflects UNITY's commitment to developing therapeutics targeting age-related diseases, particularly in ophthalmology and neurology.

Positive

• The issuance of stock-based awards may enhance employee retention and motivation.
• Focus on creating therapeutics for age-related diseases may open new market opportunities.

Negative

• None.

SOUTH SAN FRANCISCO, Calif., Feb. 24, 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 February 9, 2021 through February 23, 2021, the Board of Directors (the “Board”) granted 5 new employees stock-based awards covering an aggregate of 19,000 shares of UNITY common stock, including options to purchase an aggregate of 19,000 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 recently?

UNITY Biotechnology granted 19,000 shares as stock-based awards to five new employees from February 9 to February 23, 2021.

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

The awards were granted as an inducement for newly hired employees to join the company under the UNITY 2020 Employment Inducement Incentive Plan.

What is UNITY Biotechnology focused on developing?

UNITY is focused on developing therapeutics to slow, halt, or reverse diseases related to aging, particularly in ophthalmologic and neurologic areas.