PLYMOUTH
MEETING, Pa., Nov. 29,
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 an option to purchase
1,666 shares of common stock with a grant date of
November 30, 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 $4.32, the closing price of INOVIO's common stock
on November 29, 2024 (the last
trading date preceding the Grant Date, which is not a trading day).
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 stock option will be subject to the
employee's continued employment with INOVIO on the applicable
vesting dates. This award is subject to the terms and conditions of
a stock option agreement 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
View original content to download
multimedia:https://www.prnewswire.com/news-releases/inovio-reports-inducement-grant-under-inducement-plan-302318984.html
SOURCE INOVIO Pharmaceuticals, Inc.