Travere Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
SAN DIEGO, May 11, 2022 (GLOBE NEWSWIRE) -- Travere Therapeutics, Inc. (NASDAQ: TVTX) today announced that on May 10, 2022, the Compensation Committee of its Board of Directors granted inducement equity grants to 15 new employees, consisting of inducement restricted stock units, or RSUs, covering an aggregate of 91,000 shares of its common stock. These inducement RSUs are subject to the terms of Travere’s 2018 Equity Incentive Plan (“2018 Plan”), but were granted outside of the 2018 Plan and were granted as inducements material to the new employees entering into employment with Travere in accordance with Nasdaq Listing Rule 5635(c)(4).
The RSUs vest over four years, with 25% of the shares vesting on each anniversary of the grant date, subject to the new employee’s contnued service relationship with Travere through the applicable vesting dates.
About Travere Therapeutics
At Travere Therapeutics, we are in rare for life. We are a biopharmaceutical company that comes together every day to help patients, families and caregivers of all backgrounds as they navigate life with a rare disease. On this path, we know the need for treatment options is urgent – that is why our global team works with the rare disease community to identify, develop and deliver life-changing therapies. In pursuit of this mission, we continuously seek to understand the diverse perspectives of rare patients and to courageously forge new paths to make a difference in their lives and provide hope – today and tomorrow. For more information, visit travere.com