Iveric Bio Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
02 Juin 2023 - 10:52PM
Business Wire
IVERIC bio, Inc. (NASDAQ: ISEE) today reported that on May 19,
2023, the Company granted equity-based awards pursuant to the
Company’s 2019 Inducement Stock Incentive Plan to three
newly-hired, non-executive employees. These inducement grants were
approved by the Company’s compensation and talent strategy
committee pursuant to a delegation by the Company’s board of
directors and were made as a material inducement to each employee’s
acceptance of employment with the Company in accordance with Nasdaq
Listing Rule 5635(c)(4) as a component of his or her employment
compensation.
The inducement grants consisted of 15,745 restricted stock units
for shares of the Company’s common stock. The restricted stock
units vest with respect to 25% of the shares underlying the units
on June 1, 2024 and 6.25% of the shares underlying the units on the
first day of each of the subsequent 12 calendar quarters (July 1,
2024, October 1, 2024, January 2, 2025, April 1, 2025, July 1,
2025, October 1, 2025, January 2, 2026, April 1, 2026, July 1,
2026, October 1, 2026, January 2, 2027, and April 1, 2027). The
inducement grants are subject to the terms and conditions of award
agreements covering the grants and the Company’s 2019 Inducement
Stock Incentive Plan.
Iveric Bio
Iveric Bio is a science-driven biopharmaceutical company focused
on the discovery and development of novel treatments for retinal
diseases with significant unmet medical needs. The Company is
committed to having a positive impact on patients’ lives by
delivering high-quality, safe and effective treatments designed to
address debilitating retinal diseases including earlier stages of
age-related macular degeneration. For more information on the
Company, please visit www.ivericbio.com.
ISEE-G
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version on businesswire.com: https://www.businesswire.com/news/home/20230602005377/en/
Investor / Media Contact: Iveric Bio Kathy Galante Senior
Vice President, Investor Relations kathy.galante@ivericbio.com
Media Contact: Jeannie Neufeld Senior Director, Public
Relations and Communications Jeannie.neufeld@ivericbio.com
IVERIC bio (NASDAQ:ISEE)
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