PLYMOUTH
MEETING, Pa., Aug. 1, 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 restricted stock units ("RSU"s)
covering an aggregate of 9,307 shares of common stock and an
option to purchase an aggregate of 12,100 shares of
common stock, with a grant date of July 31, 2024 (the
"Grant Date"), to a newly hired employee in
accordance with Nasdaq Listing Rule 5635(c)(4).
The RSUs will vest over a three-year period, with one-third of
the shares vesting on each of the first, second and third
anniversaries of the Grant Date. The stock option has an exercise
price of $10.66, the closing price of
INOVIO's common stock on the Grant Date. The stock option will vest
and become exercisable with respect to one-fourth of the shares
underlying the stock option on the Grant Date, and an additional
one-fourth of the shares underlying the stock option on the first,
second, and third anniversaries of the Grant Date. The vesting of
the RSUs and stock option 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 and RSU award 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, jennie.willson@inovio.com
Investors: Thomas Hong, (267)
440-4298, thomas.hong@inovio.com
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SOURCE INOVIO Pharmaceuticals, Inc.