Verve Therapeutics Announces Inducement Grants under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Verve Therapeutics, a clinical-stage cardiovascular genetic medicine company, has granted equity awards to eight new employees on January 31, 2025. The compensation package includes:

- Stock options for 34,320 shares at $7.61 per share (closing price on grant date)
- 48,540 restricted stock units (RSUs)

The stock options have a 10-year term with a four-year vesting schedule: 25% vests after one year, with the remainder vesting monthly over three years. The RSUs will vest equally over three years, starting April 1, 2025. Both are subject to continued employment. These grants were made under the company's 2024 Inducement Stock Incentive Plan, complying with Nasdaq Listing Rule 5635(c)(4).

Positive

• Employee retention strategy implemented through long-term equity incentives
• Company expansion with eight new hires indicating growth

Negative

• Potential shareholder dilution from new equity issuance

BOSTON, Feb. 03, 2025 (GLOBE NEWSWIRE) -- Verve Therapeutics, a clinical-stage company developing a new class of genetic medicines for cardiovascular disease, today announced that on January 31, 2025, the company granted equity awards to eight new employees, pursuant to the company’s 2024 Inducement Stock Incentive Plan, as an inducement material to each new employee entering into employment with the company in accordance with Nasdaq Listing Rule 5635(c)(4).

The employees received stock options to purchase an aggregate of 34,320 shares of the company’s common stock and an aggregate of 48,540 restricted stock units (RSUs). The options have an exercise price of $7.61 per share, which is equal to the closing price of the company’s common stock on the date of grant. Each option has a 10-year term and will vest over a period of four years, with 25% of the shares vesting on the one-year anniversary of the grant date and the remainder vesting in equal monthly installments over the following three years, subject to each such employee’s continued service with the company on each such vesting date. The RSUs will vest in equal annual installments on the first three anniversaries of April 1, 2025, subject to each such employee’s continued service with the company on each such vesting date.

About Verve Therapeutics 
Verve Therapeutics, Inc. (Nasdaq: VERV) is a clinical-stage company developing a new class of genetic medicines for cardiovascular disease with the potential to transform treatment from chronic therapies to single-course gene editing medicines. The company’s lead programs – VERVE-102, VERVE-201, and VERVE-301 – target the three cholesterol drivers of atherosclerosis: LDL-C, remnant cholesterol, and Lp(a). VERVE-102 is designed to permanently turn off the PCSK9 gene in the liver and is being developed initially for heterozygous familial hypercholesterolemia (HeFH) and ultimately to treat patients with established atherosclerotic cardiovascular disease (ASCVD) who continue to be impacted by high LDL-C levels. VERVE-201 is designed to permanently turn off the ANGPTL3 gene in the liver and is initially being developed for refractory hypercholesterolemia, where patients still have high LDL-C despite treatment with maximally tolerated standard of care therapies, and homozygous familial hypercholesterolemia (HoFH). VERVE-301 is designed to permanently turn off the LPA gene to reduce Lp(a) levels. Lp(a) is a genetically validated, independent risk factor for ASCVD, ischemic stroke, thrombosis, and aortic stenosis. For more information, please visit www.VerveTx.com.

Investor Contact
Jen Robinson
Verve Therapeutics, Inc.
jrobinson@vervetx.com

Media Contact
Ashlea Kosikowski
1AB
ashlea@1abmedia.com

FAQ

How many shares were granted in Verve Therapeutics' (VERV) January 2025 inducement grants?

Verve Therapeutics granted stock options for 34,320 shares and 48,540 restricted stock units (RSUs) to eight new employees.

What is the exercise price for VERV's January 2025 inducement stock options?

The stock options have an exercise price of $7.61 per share, equal to the closing price on the grant date.

What is the vesting schedule for VERV's January 2025 inducement stock options?

The options vest over 4 years, with 25% vesting after one year and the remainder vesting monthly over the following three years.

When do the RSUs vest for VERV's January 2025 inducement grants?

The RSUs vest in equal annual installments over three years, starting from April 1, 2025.