UNITY Biotechnology Reports Granting of New Employment Inducement Awards

Rhea-AI Summary

UNITY Biotechnology, Inc. (NASDAQ: UBX) announced the grant of stock-based awards to 4 new employees, totaling 139,250 shares from April 6 to April 20, 2021. These awards were issued under the UNITY 2020 Employment Inducement Incentive Plan, approved by the Board in March 2020. This initiative aims to attract top talent to support UNITY's mission of developing therapeutics targeting age-related diseases by eliminating senescent cells and advancing research in ophthalmologic and neurologic disorders.

SOUTH SAN FRANCISCO, Calif., April 21, 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 April 6, 2021 through April 20, 2021, the Compensation Committee of the Board of Directors (the “Board”) granted 4 new employees stock-based awards covering an aggregate of 139,250 shares of UNITY common stock, including options to purchase an aggregate of 139,250 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 recent stock awards did UNITY Biotechnology grant?

UNITY Biotechnology granted stock-based awards totaling 139,250 shares to 4 new employees from April 6 to April 20, 2021.

What is the purpose of UNITY's employment inducement plan?

The plan aims to attract and retain top talent by providing stock-based awards to newly hired employees.

How does UNITY Biotechnology plan to address aging diseases?

UNITY is focused on developing therapeutics to selectively eliminate senescent cells, targeting age-related ophthalmologic and neurologic diseases.

Under which plan were the stock awards granted?

The stock awards were granted under the UNITY 2020 Employment Inducement Incentive Plan.