Viridian Therapeutics Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

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Viridian Therapeutics, Inc. announced the approval of a non-qualified stock options grant to an employee to purchase up to 30,000 shares of the company's common stock. The grant was made as an inducement for the individual entering into employment with Viridian and will vest over a four-year period.

WALTHAM, Mass.--(BUSINESS WIRE)-- Viridian Therapeutics, Inc. (Nasdaq: VRDN) (the “company” or “Viridian”), a biopharmaceutical company focused on discovering and developing potential best-in-class medicines for serious and rare diseases, today announced that a majority of the independent directors serving on the Compensation Committee of the company’s Board of Directors approved the grant of non-qualified stock options to an employee to purchase up to 30,000 shares of the company’s common stock (the “Inducement Grant”) on February 1, 2024 (the “Grant Date”). The Inducement Grant has been granted outside of the company’s Amended and Restated 2016 Equity Incentive Plan (the “Plan”) but remains subject to the terms and conditions of such Plan. The Inducement Grant was granted as an inducement material to this individual entering into employment with Viridian in accordance with Nasdaq Listing Rule 5635(c)(4).

The Inducement Grant has an exercise price per share that is equal to the closing price of Viridian’s common stock on the Grant Date. The Inducement Grant will vest over a four-year period, with 25% of the shares vesting on the one-year anniversary of the employee’s start date, and thereafter the remainder of the shares vest in 36 equal monthly installments, subject to the employee’s continued employment with Viridian through the applicable vesting dates.

About Viridian Therapeutics

Viridian is a biopharmaceutical company focused on engineering and developing potential best-in-class medicines for patients with serious and rare diseases. Viridian’s expertise in antibody discovery and engineering enables it to develop differentiated therapeutic candidates for previously validated drug targets in commercially established disease areas.

Viridian is advancing multiple candidates in the clinic for the treatment of patients with thyroid eye disease (TED). The company is conducting two global Phase 3 clinical trials (THRIVE and THRIVE-2) to evaluate the safety and efficacy of VRDN-001 in patients with active and chronic TED. Viridian’s goal is to advance VRDN-001 as a best-in-class IV therapy followed by VRDN-003 as a first- and best-in-class subcutaneous therapy for the treatment of TED.

In addition to its TED portfolio, Viridian is advancing a novel portfolio of neonatal Fc receptor (FcRn) inhibitors, VRDN-006 and VRDN-008, which has the potential to be developed in multiple autoimmune diseases.

Viridian is based in Waltham, Massachusetts. For more information, please visit www.viridiantherapeutics.com. Follow Viridian on LinkedIn and X.

Source: Viridian Therapeutics, Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240206666436/en/

Louisa Stone, 617-272-4604

Manager, Investor Relations

IR@viridiantherapeutics.com

Source: Viridian Therapeutics, Inc.

FAQ

What did Viridian Therapeutics announce?

Viridian Therapeutics announced the approval of a non-qualified stock options grant to an employee to purchase up to 30,000 shares of the company's common stock.

What is the ticker symbol for Viridian Therapeutics?

The ticker symbol for Viridian Therapeutics is VRDN.

When will the Inducement Grant vest?

The Inducement Grant will vest over a four-year period, with 25% of the shares vesting on the one-year anniversary of the employee’s start date, and the remainder vesting in 36 equal monthly installments, subject to the employee’s continued employment with Viridian.