Replimune Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
The inducement awards consist of a non-qualified stock option to purchase 75,000 shares of the Company's common stock and restricted stock units representing 50,000 shares of the Company's common stock.
- The inducement awards consist of a non-qualified stock option to purchase 75,000 shares of the Company's common stock and restricted stock units representing 50,000 shares of the Company's common stock.
- The option has an exercise price of $7.73 per share, which is equal to the closing price of the Company's common stock on the date of grant.
- The inducement awards were granted under the Company's previously approved Employment Commencement Incentive Plan and were approved by the compensation committee of the Company's board of directors in reliance on the employment inducement exception under Nasdaq Listing Rule 5635(c)(4).
- While the inducement awards were granted outside of Replimune's 2018 Equity Incentive Plan, the awards will have terms and conditions consistent with those set forth under the plan.