UNITY Biotechnology Reports Granting of New Employment Inducement Awards

Rhea-AI Summary

UNITY Biotechnology [NASDAQ: UBX] announced the grant of stock-based awards totaling 9,000 shares from May 18 to June 1, 2021, to a new employee. This grant follows the UNITY 2020 Employment Inducement Incentive Plan approved in March 2020, aimed at incentivizing new hires. The company's focus remains on developing therapeutics designed to modify or eliminate senescent cells in age-related diseases, particularly within ophthalmology and neurology.

Positive

• Granting of 9,000 stock options to a new employee enhances workforce motivation.
• Focus on developing therapeutics for age-related diseases could lead to innovative solutions.

Negative

• None.

SOUTH SAN FRANCISCO, Calif., June 02, 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 May 18, 2021 through June 1, 2021, the Compensation Committee of the Board of Directors (the “Board”) granted a new employee a stock-based award covering an aggregate of 9,000 shares of UNITY common stock, including options to purchase an aggregate of 9,000 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 is the recent stock award by UNITY Biotechnology?

UNITY Biotechnology granted a stock-based award covering 9,000 shares to a new employee from May 18 to June 1, 2021.

What is the purpose of the stock-based award at UNITY?

The stock-based award is part of the UNITY 2020 Employment Inducement Incentive Plan to attract and motivate new employees.

What is UNITY Biotechnology focused on?

UNITY Biotechnology is focused on developing therapeutics that address diseases of aging, specifically targeting senescent cells.

When was the stock award plan approved for UNITY?

The UNITY 2020 Employment Inducement Incentive Plan was approved in March 2020.