Vaxart, Inc. Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Vaxart announced the granting of inducement equity awards to two new non-executive employees on November 15, 2024. The awards include 61,000 stock options that vest 25% after one year and 1/48th monthly thereafter, and 30,500 restricted stock units that vest 25% annually over four years. These awards were granted under Vaxart's 2024 Inducement Award Plan, complying with Nasdaq Listing Rule 5635(c)(4), specifically designed to attract new employees to the company.
Vaxart ha annunciato l'assegnazione di premi in capitale da incentivo a due nuovi dipendenti non esecutivi il 15 novembre 2024. I premi includono 61.000 opzioni su azioni che maturano il 25% dopo un anno e 1/48 mensilmente successivamente, e 30.500 unità di azioni vincolate che maturano il 25% annualmente per un periodo di quattro anni. Questi premi sono stati concessi nell'ambito del Piano di Premi per Incentivazione di Vaxart del 2024, conforme alla Regola di Quotazione Nasdaq 5635(c)(4), specificamente progettata per attrarre nuovi dipendenti nell'azienda.
Vaxart anunció la concesión de premios de acciones por incentivo a dos nuevos empleados no ejecutivos el 15 de noviembre de 2024. Los premios incluyen 61,000 opciones sobre acciones que se consolidan al 25% después de un año y 1/48 mensualmente a partir de entonces, y 30,500 unidades de acciones restringidas que se consolidan al 25% anualmente durante cuatro años. Estos premios se otorgaron bajo el Plan de Premios por Incentivo de Vaxart de 2024, cumpliendo con la Regla de Cotización de Nasdaq 5635(c)(4), diseñado específicamente para atraer nuevos empleados a la empresa.
바작트(Vaxart)는 2024년 11월 15일 두 명의 신규 비상무직원에게 유인 자산 보상을 부여했다고 발표했습니다. 보상에는 61,000개의 주식 옵션이 포함되며, 1년 후 25%가 확정되고 그 이후 매달 1/48씩 확정됩니다. 또한 30,500개의 제한 주식 유닛이 포함되어 있으며, 이는 4년에 걸쳐 매년 25%씩 확정됩니다. 이 보상은 바작트의 2024 유인 보상 계획에 따라 제공되었으며, 나스닥 상장 규칙 5635(c)(4)를 준수하여 회사에 새로운 직원을 유치하기 위해 특별히 설계되었습니다.
Vaxart a annoncé le 15 novembre 2024 l'octroi de récompenses en actions incitatives à deux nouveaux employés non dirigeants. Les récompenses comprennent 61 000 options d'achat d'actions qui se débloquent à hauteur de 25 % après un an et 1/48 par mois par la suite, ainsi que 30 500 unités d'actions restreintes qui se débloquent à hauteur de 25 % chaque année pendant quatre ans. Ces récompenses ont été accordées dans le cadre du Plan de Récompenses Incitatives 2024 de Vaxart, conformément à la Règle de Cotation Nasdaq 5635(c)(4), spécifiquement conçu pour attirer de nouveaux employés dans l'entreprise.
Vaxart hat am 15. November 2024 die Vergabe von Anreizkapitalauszeichnungen an zwei neue nicht-executive Mitarbeiter bekannt gegeben. Die Auszeichnungen umfassen 61.000 Aktienoptionen, die nach einem Jahr zu 25% und ab dann monatlich zu 1/48 fällig werden, sowie 30.500 eingeschränkte Aktieneinheiten, die über vier Jahre zu 25% jährlich fällig werden. Diese Auszeichnungen wurden im Rahmen des Vaxart 2024 Anreizauszeichnungsplans vergeben, der den Nasdaq Listing Regel 5635(c)(4) entspricht und speziell entwickelt wurde, um neue Mitarbeiter für das Unternehmen zu gewinnen.
- Company maintains ability to attract talent through equity compensation
- Potential shareholder dilution from 91,500 new shares
SOUTH SAN FRANCISCO, Calif., Nov. 19, 2024 (GLOBE NEWSWIRE) -- Vaxart, Inc. (Nasdaq: VXRT) (the “Company” or “Vaxart”) today announced that on November 15, 2024, the Compensation Committee of the Board of Directors granted inducement equity awards covering an aggregate of 91,500 shares of its common stock to two new non-executive employees to induce them to accept employment with Vaxart.
The awards consisted of stock options to purchase an aggregate of 61,000 shares of Vaxart’s common stock, which vest as to 1/4th of the total shares on the one-year anniversary of the grant date, and as to 1/48th of the total shares on each month thereafter, and have a per share exercise price equal to the closing price of Vaxart’s common stock on the grant date; and restricted stock unit awards covering an aggregate of 30,500 shares of Vaxart’s common stock, which vest as to
The awards were granted under the Vaxart, Inc. 2024 Inducement Award Plan as an employment “inducement award” pursuant to Nasdaq Listing Rule 5635(c)(4). The Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of Vaxart (or following a bona fide period of non-employment) as an inducement material to entering into employment with Vaxart.
About Vaxart
Vaxart is a clinical-stage biotechnology company developing a range of oral recombinant vaccines based on its proprietary delivery platform. Vaxart vaccines are designed to be administered using pills that can be stored and shipped without refrigeration and to eliminate the risk of needle-stick injury. Vaxart believes that its proprietary pill vaccine delivery platform is suitable to deliver recombinant vaccines, positioning the company to develop oral versions of currently marketed vaccines and to design recombinant vaccines for new indications. Vaxart’s development programs currently include pill vaccines designed to protect against coronavirus, norovirus and influenza, as well as a therapeutic vaccine for human papillomavirus (HPV), Vaxart’s first immune-oncology indication. Vaxart has filed broad domestic and international patent applications covering its proprietary technology and creations for oral vaccination using adenovirus and TLR3 agonists.
Contact
Vaxart Media and Investor Relations:
Matt Steinberg
FINN Partners
IR@vaxart.com
(646) 871-8481
This press release was published by a CLEAR® Verified individual.
FAQ
How many shares were granted in Vaxart's (VXRT) November 2024 inducement awards?
What is the vesting schedule for Vaxart's (VXRT) November 2024 stock option grants?
How do the restricted stock units (RSUs) vest in Vaxart's (VXRT) November 2024 inducement grants?
