Voyager Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Voyager Therapeutics, Inc. grants non-qualified stock options and restricted stock units to Dr. Toby Ferguson as an inducement for his employment. The stock option allows the purchase of 210,000 shares at $9.26 per share, while the restricted stock unit represents 105,000 shares. Both awards vest over several years, contingent on Dr. Ferguson's continued employment.

LEXINGTON, Mass., March 26, 2024 (GLOBE NEWSWIRE) -- Voyager Therapeutics, Inc. (Nasdaq: VYGR), a biotechnology company dedicated to advancing neurogenetic medicines, has entered into an employment agreement with Toby Ferguson, M.D., Ph.D. that, among other things, provides for the grant to Dr. Ferguson of a non-qualified stock option and restricted stock units as an inducement material to Dr. Ferguson’s entering into employment with Voyager. The inducement awards were approved by the Compensation Committee of Voyager’s Board of Directors in accordance with Nasdaq Stock Market Listing Rule 5635(c)(4). The option award became effective on March 25, 2024, and the restricted stock unit award is scheduled to become effective on April 1, 2024.

The stock option award to Dr. Ferguson provides for the purchase of an aggregate of 210,000 shares of Voyager’s common stock, and the restricted stock unit award to Dr. Ferguson will represent 105,000 shares of Voyager’s common stock. The stock option has a ten-year term and an exercise price of $9.26 per share, which is equal to the closing price of Voyager's common stock on March 25, 2024, the effective date of grant. The stock option vests over four years, with 25% of the shares underlying the stock option vesting on the first anniversary of the effective date of grant and 75% of the shares underlying the stock option vesting in 36 equal monthly installments following the first anniversary of the effective date of grant. The restricted stock unit award vests annually in equal installments over three years, beginning on the first anniversary of the effective date of grant. Vesting of Dr. Ferguson’s equity awards is subject to Dr. Ferguson’s continued employment with Voyager. Each equity award is also subject to the terms and conditions of an award agreement.

About Voyager Therapeutics
Voyager Therapeutics, Inc. (Nasdaq: VYGR) is a biotechnology company dedicated to leveraging the power of human genetics to modify the course of – and ultimately cure – neurological diseases. Our pipeline includes programs for Alzheimer’s disease, amyotrophic lateral sclerosis (ALS), Parkinson’s disease, and multiple other diseases of the central nervous system. Many of our programs are derived from our TRACER™ AAV capsid discovery platform, which we have used to generate novel capsids and identify associated receptors to potentially enable high brain penetration with genetic medicines following intravenous dosing. Some of our programs are wholly owned, and some are advancing with partners including Alexion, AstraZeneca Rare Disease; Novartis Pharma AG; Neurocrine Biosciences, Inc.; and Sangamo Therapeutics, Inc. For more information, visit www.voyagertherapeutics.com.

Voyager Therapeutics^® is a registered trademark, and TRACER™ is a trademark, of Voyager Therapeutics, Inc.

Contacts
Trista Morrison, NACD.DC, tmorrison@vygr.com
Investors: Adam Bero, Ph.D., abero@kendallir.com
Media: Brooke Shenkin, brooke@scientpr.com

FAQ

What type of stock awards were granted to Dr. Toby Ferguson by Voyager Therapeutics, Inc.?

Dr. Toby Ferguson was granted a non-qualified stock option and restricted stock units by Voyager Therapeutics, Inc.

How many shares can be purchased through the stock option awarded to Dr. Toby Ferguson?

Dr. Toby Ferguson can purchase 210,000 shares through the stock option awarded by Voyager Therapeutics, Inc.

What is the exercise price per share for the stock option granted to Dr. Toby Ferguson?

The exercise price per share for the stock option granted to Dr. Toby Ferguson is $9.26.

How many shares does the restricted stock unit awarded to Dr. Toby Ferguson represent?

The restricted stock unit awarded to Dr. Toby Ferguson represents 105,000 shares.

How does the vesting schedule work for the stock option and restricted stock unit awarded to Dr. Toby Ferguson?

The stock option vests over four years, with 25% of shares vesting on the first anniversary and the rest over 36 monthly installments. The restricted stock unit vests annually over three years.