INOVIO Reports Inducement Grants Under Inducement Plan

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May 31, 2024, 16:48 ET

PLYMOUTH MEETING, Pa., May 31, 2024 /PRNewswire/ -- INOVIO (NASDAQ:INO), a biotechnology company focused on developing and commercializing DNA medicines to help treat and protect people from HPV-related diseases, cancer, and infectious diseases, today announced that it has made an equity grant to a newly hired employee under its 2022 Inducement Plan (the "Inducement Plan").

The Compensation Committee of INOVIO's Board of Directors has approved the award of options to purchase an aggregate of 1,666 shares of common stock, with a grant date of May 31, 2024 (the "Grant Date"), to a newly hired employee in accordance with Nasdaq Listing Rule 5635(c)(4).

The stock option has an exercise price of $10.13, the closing price of INOVIO's common stock on the Grant Date. The stock options will vest and become exercisable with respect to one-fourth of the shares underlying the stock options on the Grant Date, and an additional one-fourth of the shares underlying the stock options on the first, second, and third anniversaries of the Grant Date. The vesting of the stock options will be subject to the employee's continued employment with INOVIO on the applicable vesting dates. Each of these awards is subject to the terms and conditions of a stock option agreement, as applicable, under the Inducement Plan.

About INOVIO
INOVIO is a biotechnology company focused on developing and commercializing DNA medicines to help treat and protect people from HPV-related diseases, cancer, and infectious diseases. INOVIO's technology optimizes the design and delivery of innovative DNA medicines that teach the body to manufacture its own disease-fighting tools. For more information, visit www.inovio.com.

Contacts
Media: Jennie Willson, (267) 429-8567, [email protected]
Investors: Thomas Hong, (267) 440-4298, [email protected]

SOURCE INOVIO Pharmaceuticals, Inc.