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 a newly hired employee as material inducements to employment with a ten-year term and an exercise price of $2.29 per share. The options and RSUs will vest over a four-year period, subject to the employee’s continued employment with Vor Bio on such vesting dates.

CAMBRIDGE, Mass., Dec. 21, 2023 (GLOBE NEWSWIRE) -- Vor Bio (Nasdaq: VOR), a clinical-stage cell and genome engineering company, today announced that, effective as of December 20, 2023, the Compensation Committee of the Board of Directors granted stock options to purchase an aggregate of 2,500 shares of Vor Bio’s common stock and restricted stock units (“RSUs”) representing the right to receive an aggregate of 3,750 shares of Vor Bio’s common stock to one newly hired employee. 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 $2.29 per share, which is equal to the closing price of Vor Bio’s common stock on December 20, 2023. 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 did Vor Bio announce on December 20, 2023?

Vor Bio announced that the Compensation Committee of the Board of Directors granted stock options and restricted stock units to a newly hired employee as material inducements to employment.

What is the ticker symbol for Vor Bio?

The ticker symbol for Vor Bio is VOR.

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

The exercise price of the stock options granted by Vor Bio is $2.29 per share.

How long is the term for the stock options granted by Vor Bio?

The stock options granted by Vor Bio have a ten-year term.

How will the options and RSUs granted by Vor Bio vest?

The options and RSUs granted by Vor Bio will vest over a four-year period, subject to the employee’s continued employment with Vor Bio on such vesting dates.