Vera Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Vera Therapeutics (VERA) announced the granting of inducement awards to nine new employees on March 6, 2025. The awards, approved by the Compensation Committee under Nasdaq Listing Rule 5635(c)(4), include:

- Non-qualified stock options to purchase 51,500 shares of Class A common stock at $29.30 per share
- Restricted stock units (RSUs) for 25,750 shares of Class A common stock

The stock options will vest over four years, with 25% vesting on the first anniversary and the remainder monthly over 36 months. The RSUs will vest over four years, with 25% vesting annually starting May 20, 2025. Both awards are contingent on continued employment with Vera.

Positive

• Successful hiring of nine new employees indicating company growth
• Stock price of $29.30 as of March 6, 2025

Negative

• Potential dilution from 77,250 new shares (51,500 options + 25,750 RSUs)

BRISBANE, Calif., March 11, 2025 (GLOBE NEWSWIRE) -- Vera Therapeutics, Inc. (Nasdaq: VERA) today announced that on March 6, 2025, the Compensation Committee granted inducement awards consisting of a non-qualified stock option to purchase 51,500 shares of Class A common stock and restricted stock units (RSUs) for 25,750 shares of Class A common stock to nine (9) new employees under the Inducement Plan. The Compensation Committee approved the awards as an inducement material to the new employees’ employment in accordance with Nasdaq Listing Rule 5635(c)(4).

Each stock option granted on March 6, 2025, has an exercise price per share equal to $29.30, Vera’s closing trading price on March 6, 2025. Each stock option will vest over four years, with 25% of the underlying shares vesting on the first anniversary of the applicable vesting commencement date and the balance of the underlying shares vesting monthly thereafter over 36 months, subject to the new employee’s continued service relationship with Vera through the applicable vesting dates. Each of the RSUs will vest over four years, with 25% of the underlying shares vesting on each anniversary of May 20, 2025, subject to the new employee’s continued service relationship with Vera through the applicable vesting dates. The awards are subject to the terms and conditions of the Inducement Plan and the terms and conditions of an applicable award agreement covering the grant.

About Vera
Vera Therapeutics is a late clinical-stage biotechnology company focused on developing treatments for serious immunological diseases. Vera’s mission is to advance treatments that target the source of immunological diseases in order to change the standard of care for patients. Vera’s lead product candidate is atacicept, a fusion protein self-administered as a subcutaneous injection once weekly that blocks both B-cell Activating Factor (BAFF) and A PRoliferation-Inducing Ligand (APRIL), which stimulate B cells and plasma cells to produce autoantibodies contributing to certain autoimmune diseases, including IgAN, also known as Berger’s disease, and lupus nephritis. In addition, Vera is evaluating additional diseases where the reduction of autoantibodies by atacicept may prove medically useful. Vera is also developing MAU868, a monoclonal antibody designed to neutralize infection with BK virus (BKV), a polyomavirus that can have devastating consequences in certain settings such as kidney transplant. Vera retains all global developmental and commercial rights to atacicept and MAU868. Vera also holds an exclusive license agreement with Stanford University for a novel, next generation fusion protein targeting BAFF and APRIL, known as VT-109, with wide therapeutic potential across the spectrum of B cell mediated diseases. For more information, please visit www.veratx.com.

For more information, please contact:

Investor Contact:
Joyce Allaire
LifeSci Advisors
212-915-2569
jallaire@lifesciadvisors.com

Media Contact:
Madelin Hawtin
LifeSci Communications
MHawtin@lifescicomms.com

FAQ

What inducement awards did Vera Therapeutics (VERA) grant to new employees in March 2025?

On March 6, 2025, VERA granted stock options for 51,500 shares at $29.30 per share and 25,750 RSUs to nine new employees.

What is the vesting schedule for VERA's March 2025 stock option grants?

The stock options vest over 4 years - 25% after year one, then monthly over 36 months, subject to continued employment.

How will the RSUs vest in Vera Therapeutics' March 2025 inducement grants?

The RSUs vest over 4 years, with 25% vesting annually starting May 20, 2025, subject to continued employment.

What was the exercise price for VERA's stock options granted on March 6, 2025?

The stock options were granted with an exercise price of $29.30 per share, matching VERA's closing price on March 6, 2025.