UNITY Biotechnology Reports Granting of New Employment Inducement Awards

Rhea-AI Summary

UNITY Biotechnology announced the granting of stock-based awards covering 138,500 shares of common stock to four new employees between September 21 and October 5, 2021. This initiative is part of the 2020 Employment Inducement Incentive Plan, approved by the Board in March 2020, aimed at attracting talent in line with Nasdaq Rule 5635(c)(4). UNITY focuses on developing therapeutics targeting age-related diseases by eliminating senescent cells, particularly in ophthalmologic and neurologic areas.

Positive

• Granting of 138,500 shares to new employees indicates company commitment to attracting talent.
• The stock-based awards are part of a strategic plan to enhance workforce capabilities.

Negative

• None.

SOUTH SAN FRANCISCO, Calif., Oct. 06, 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 September 21, 2021, through October 5, 2021, the Compensation Committee of the Board of Directors (the “Board”) granted 4 new employees stock-based awards covering an aggregate of 138,500 shares of UNITY common stock, including options to purchase an aggregate of 138,500 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.

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

FAQ

What recent stock awards were granted by UNITY Biotechnology?

UNITY Biotechnology granted stock-based awards covering 138,500 shares to four new employees from September 21, 2021, to October 5, 2021.

What is the purpose of UNITY's 2020 Employment Inducement Incentive Plan?

The plan aims to provide inducements for newly hired employees to join UNITY, in accordance with Nasdaq Stock Market Rule 5635(c)(4).

How does UNITY Biotechnology focus on age-related diseases?

UNITY is developing therapeutics to selectively eliminate senescent cells to address age-related ophthalmologic and neurologic diseases.

What are the implications of the recent stock awards for UNITY's workforce?

The stock awards signify UNITY's commitment to attracting and retaining talent, which is crucial for its growth and innovation in biotechnology.