Verve Therapeutics Announces Inducement Grants under Nasdaq Listing Rule 5635(c)(4)
VERV 11.01.2024
BOSTON , Nov. 01, 2024 (GLOBE NEWSWIRE) --Verve Therapeutics, a clinical-stage company developing a new class of genetic medicines for cardiovascular disease, today announced that on October 31, 2024, the company granted equity awards to six new employees, pursuant to the company’s 2024 Inducement Stock Incentive Plan, as an inducement material to each new employee entering into employment with the company in accordance with Nasdaq Listing Rule 5635(c)(4).
The employees received stock options to purchase an aggregate of 47,600 shares of the company’s common stock and an aggregate of 42,710 restricted stock units (RSUs). The options have an exercise price of $5.73 per share, which is equal to the closing price of the company’s common stock on the date of grant. Each option has a 10-year term and will vest over a period of four years, with 25% of the shares vesting on the one-year anniversary of the grant date and the remainder vesting in equal monthly installments over the following three years, subject to each such employee’s continued service with the company on each such vesting date. The RSUs will vest in equal annual installments on the first four anniversaries of January 1, 2025, subject to each such employee’s continued service with the company on each such vesting date.
About Verve TherapeuticsVerve Therapeutics, Inc. (Nasdaq: VERV) is a clinical-stage company developing a new class of genetic medicines for cardiovascular disease with the potential to transform treatment from chronic management to single-course gene editing medicines. The company’s lead programs – VERVE-101, VERVE-102, and VERVE-201 – target genes that have been extensively validated as targets for lowering low-density lipoprotein cholesterol (LDL-C), a root cause of atherosclerotic cardiovascular disease (ASCVD). VERVE-101 and VERVE-102 are designed to permanently turn off thePCSK9gene in the liver and are being developed initially for heterozygous familial hypercholesterolemia (HeFH) and ultimately to treat patients with established ASCVD who continue to be impacted by high LDL-C levels. VERVE-201 is designed to permanently turn off theANGPTL3gene in the liver and is initially being developed for refractory hypercholesterolemia, where patients still have high LDL-C despite treatment with maximally tolerated standard of care therapies, and homozygous familial hypercholesterolemia (HoFH). For more information, please visitwww.VerveTx.com.
Investor ContactJen RobinsonVerve Therapeutics, Inc.jrobinson@vervetx.com
Media ContactAshlea Kosikowski1ABashlea@1abmedia.com
