Vor Bio Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
August 02 2024 - 4:01PM
Vor Bio (Nasdaq: VOR), a clinical-stage cell and genome engineering
company, today announced that, effective as of July 31, 2024, the
Compensation Committee of the Board of Directors granted stock
options to purchase an aggregate of 1,250 shares of Vor Bio’s
common stock and restricted stock units (“RSUs”) representing the
right to receive an aggregate of 1,875 shares of Vor Bio’s common
stock to one newly hired employee. The foregoing stock options and
RSUs were granted as material inducements to employment with Vor
Bio in accordance with Nasdaq Listing Rule 5635(c)(4) and were
granted under the Vor Biopharma Inc. 2023 Inducement Plan (the
“Inducement Plan”).
The stock options have a ten-year term and an
exercise price of $0.929 per share, which is equal to the closing
price of Vor Bio’s common stock on July 31, 2024. The options will
vest over a four-year period, with 25% of the shares vesting after
12 months and the remaining shares vesting monthly over the
following 36 months, subject to the employee’s continued employment
with Vor Bio on such vesting dates. The RSUs will vest over a
four-year period, with 25% of the shares vesting after 12 months
and the remaining shares vesting quarterly over the following 36
months, subject to the employee’s continued employment with Vor Bio
on such vesting dates. The options and RSUs are subject to the
terms and conditions of the Inducement Plan and the terms and
conditions of an award agreement covering the grants.
About Vor BioVor Bio is a
clinical-stage cell and genome engineering company that aims to
change the standard of care for patients with blood cancers by
engineering hematopoietic stem cells to enable targeted therapies
post-transplant. For more information, visit: www.vorbio.com.
Contact:Investors & MediaSarah Spencer +1
857-242-6076sspencer@vorbio.com
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