Audentes Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
SAN FRANCISCO, June 7, 2019 /PRNewswire/ -- Audentes Therapeutics, Inc. (Nasdaq: BOLD), a leading AAV-based genetic medicines company focused on developing and commercializing innovative products for serious rare neuromuscular diseases, announced it has granted equity awards on June 5, 2019, that were previously approved by the Compensation Committee of its Board of Directors under the Audentes Therapeutics, Inc. 2018 Equity Inducement Plan, as a material inducement to employment to nine individuals hired by Audentes from April 25 through May 31, 2019. The equity awards were approved in accordance with Nasdaq Listing Rule 5635(c)(4).
The employees received, in the aggregate, options to purchase 22,800 shares of Audentes common stock. The options have an exercise price of $37.31 per share, which is equal to the closing price of Audentes common stock on June 5, 2019. One-fourth of the shares underlying each employee's option will vest on the one year anniversary of his or her date of hire and thereafter 1/48th of the shares underlying each employee's option will vest monthly, such that the shares underlying the option granted to each employee will be fully vested on the fourth anniversary of his or her date of hire, in each case, subject to each such employee's continued employment with Audentes on such vesting dates.
The employees also received, in the aggregate, 14,800 restricted stock units ("RSUs"). One-fourth of the RSUs will vest on the first anniversary of the date that vesting of the RSUs commences, and 1/16th of the RSUs will vest quarterly thereafter, such that the RSUs will be fully vested on the fourth anniversary of the date that vesting of the RSUs commences, subject to each such employee's continued employment with Audentes on such vesting dates.
About Audentes Therapeutics, Inc.
Audentes Therapeutics (Nasdaq: BOLD) is a leading AAV-based genetic medicines company focused on developing and commercializing innovative products for serious rare neuromuscular diseases. We are leveraging our AAV gene therapy technology platform and proprietary manufacturing expertise to develop programs across three modalities: gene replacement, vectorized exon skipping, and vectorized RNA knockdown. Our product candidates are showing promising therapeutic profiles in clinical and preclinical studies across a range of neuromuscular diseases. Audentes is a focused, experienced and passionate team driven by the goal of improving the lives of patients.
For more information regarding Audentes, please visit www.audentestx.com.
Audentes Contacts:
Investor Contact:
Andrew Chang
415.818.1033
[email protected]
Media Contacts:
Sarah Spencer
415.957.2020
[email protected]
Katie Hogan
415.951.3398
[email protected]
SOURCE Audentes Therapeutics, Inc.
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