Voyager Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
CAMBRIDGE, Mass., Jan. 24, 2023 (GLOBE NEWSWIRE) -- Voyager Therapeutics, Inc. (Nasdaq: VYGR), a biotechnology company dedicated to breaking through barriers in gene therapy and neurology, has entered into employment agreements with two newly hired employees that, among other things, provide for the grant to such employees of non-qualified stock options and restricted stock units as inducements material to such employees’ entering into employment with Voyager. The inducement awards were approved by the Compensation Committee of Voyager’s Board of Directors in accordance with Nasdaq Stock Market Listing Rule 5635(c)(4). The option award to each employee became effective on January 23, 2023, and the restricted stock unit award to each employee is scheduled to become effective on April 1, 2023.
The stock option award to one employee provides for the purchase of an aggregate of 100,000 shares of Voyager’s common stock, and the restricted stock unit award to such employee will represent 50,000 shares of Voyager’s common stock. The stock option award to the other employee provides for the purchase of an aggregate of 50,000 shares of Voyager’s common stock, and the restricted stock unit award to such employee will represent 25,000 shares of Voyager’s common stock. Each stock option has a ten-year term and an exercise price of $9.16 per share, which is equal to the closing price of Voyager's common stock on January 23, 2023, the effective date of grant. Each stock option vests over four years, with 25% of the shares underlying the stock option vesting on the first anniversary of the effective date of grant and 75% of the shares underlying the stock option vesting i 36 equal monthly installments following the first anniversary of the effective date of grant. Each restricted stock unit award vests annually in equal installments over three years, beginning on the first anniversary of the effective date of grant. Vesting of each employee’s equity awards is subject to such employee’s continued employment with Voyager. Each equity award is also subject to the terms and conditions of an award agreement.
Voyager Therapeutics® is a registered trademark, and TRACER™ is a trademark, of Voyager Therapeutics, Inc.
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