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

Rhea-AI Summary

Verve Therapeutics, a clinical-stage company focused on developing genetic medicines for cardiovascular disease, has announced the granting of equity awards to two new employees. The awards, issued on August 30, 2024, consist of a total of 12,600 restricted stock units (RSUs). These grants were made under the company's 2024 Inducement Stock Incentive Plan and are in compliance with Nasdaq Listing Rule 5635(c)(4).

The RSUs will vest in equal annual installments over a four-year period, starting from October 1, 2024, contingent on the employees' continued service with Verve Therapeutics. This move is part of the company's strategy to attract and retain talent in the competitive biotech sector.

Positive

• Verve Therapeutics is attracting new talent, potentially strengthening its workforce
• The company has a structured equity incentive plan in place for new employees

Negative

• None.

BOSTON, Sept. 03, 2024 (GLOBE NEWSWIRE) -- Verve Therapeutics, a clinical-stage company developing a new class of genetic medicines for cardiovascular disease, today announced that on August 30, 2024, the company granted equity awards to two 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 an aggregate of 12,600 restricted stock units (RSUs). The RSUs will vest in equal annual installments on the first four anniversaries of October 1, 2024, 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 management to single-course gene editing medicines. The company’s lead programs – VERVE-101, VERVE-102, and VERVE-201 – target genes that have been extensively validated as targets for lowering low-density lipoprotein cholesterol (LDL-C), a root cause of atherosclerotic cardiovascular disease (ASCVD). VERVE-101 and VERVE-102 are designed to permanently turn off the PCSK9 gene in the liver and are being developed initially for heterozygous familial hypercholesterolemia (HeFH) and ultimately to treat patients with established 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 for homozygous familial hypercholesterolemia (HoFH). 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 restricted stock units (RSUs) did Verve Therapeutics (VERV) grant to new employees on August 30, 2024?

Verve Therapeutics granted a total of 12,600 restricted stock units (RSUs) to two new employees on August 30, 2024.

What is the vesting schedule for the RSUs granted by Verve Therapeutics (VERV) on August 30, 2024?

The RSUs will vest in equal annual installments on the first four anniversaries of October 1, 2024, subject to each employee's continued service with the company.

Under which plan did Verve Therapeutics (VERV) grant the inducement awards announced on September 3, 2024?

The inducement awards were granted under Verve Therapeutics' 2024 Inducement Stock Incentive Plan.

What Nasdaq rule does Verve Therapeutics (VERV) comply with for its inducement grants announced on September 3, 2024?

Verve Therapeutics' inducement grants comply with Nasdaq Listing Rule 5635(c)(4).