Vor Bio Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Vor Bio (Nasdaq: VOR) granted stock options and restricted stock units to five newly hired employees as material inducements to employment with a ten-year term and an exercise price of $2.415 per share. The options will vest over a four-year period, and the RSUs will vest over a four-year period, subject to the employee’s continued employment with Vor Bio on such vesting dates.

CAMBRIDGE, Mass., Feb. 02, 2024 (GLOBE NEWSWIRE) -- Vor Bio (Nasdaq: VOR), a clinical-stage cell and genome engineering company, today announced that, effective as of January 29, 2024, the Compensation Committee of the Board of Directors granted stock options to purchase an aggregate of 50,000 shares of Vor Bio’s common stock and restricted stock units (“RSUs”) representing the right to receive an aggregate of 75,000 shares of Vor Bio’s common stock to five newly hired employees. The foregoing stock options and RSUs were granted as material inducements to employment with Vor Bio in accordance with Nasdaq Listing Rule 5635(c)(4) and were granted under the Vor Biopharma Inc. 2023 Inducement Plan (the “Inducement Plan”).

The stock options have a ten-year term and an exercise price of $2.415 per share, which is equal to the closing price of Vor Bio’s common stock on January 29, 2024. The options will vest over a four-year period, with 25% of the shares vesting after 12 months and the remaining shares vesting monthly over the following 36 months, subject to the employee’s continued employment with Vor Bio on such vesting dates. The RSUs will vest over a four-year period, with 25% of the shares vesting after 12 months and the remaining shares vesting quarterly over the following 36 months, subject to the employee’s continued employment with Vor Bio on such vesting dates. The options and RSUs are subject to the terms and conditions of the Inducement Plan and the terms and conditions of an award agreement covering the grants.

About Vor Bio
Vor Bio is a clinical-stage cell and genome engineering company that aims to change the standard of care for patients with blood cancers by engineering hematopoietic stem cells to enable targeted therapies post-transplant. For more information, visit: www.vorbio.com.

Contact:
Investors & Media
Sarah Spencer
+1 857-242-6076
sspencer@vorbio.com

FAQ

What is the ticker symbol for Vor Bio?

The ticker symbol for Vor Bio is VOR.

How many shares of Vor Bio’s common stock were granted as stock options?

An aggregate of 50,000 shares were granted as stock options.

What is the exercise price of the stock options granted by Vor Bio?

The exercise price of the stock options is $2.415 per share.

How long is the vesting period for the stock options and RSUs granted by Vor Bio?

Both the stock options and RSUs will vest over a four-year period.

What is the purpose of granting stock options and RSUs to the newly hired employees by Vor Bio?

The stock options and RSUs were granted as material inducements to employment with Vor Bio.