Spero Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
CAMBRIDGE, Mass., March 31, 2023 (GLOBE NEWSWIRE) -- Spero Therapeutics, Inc. (Nasdaq: SPRO), a multi-asset clinical-stage biopharmaceutical company, focused on identifying, developing and commercializing treatments in high unmet need areas involving rare diseases and multi-drug resistant (MDR) bacterial infections, today announced that on March 23, 2023, the Compensation Committee of Spero’s Board of Directors approved the grant of an aggregate of 95,000 restricted stock unit awards (RSUs) to four new employees under the Spero Therapeutics, Inc. 2019 Inducement Equity Incentive Plan, as amended, or the 2019 Inducement Plan. The RSUs are being granted as inducements material to the new employees becoming employees of Spero in accordance with Nasdaq Listing Rule 5635(c)(4).
The 2019 Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of Spero (or following a bona fide period of non-employment), as an inducement material to such individuals' entering into employment with Spero, pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules.
The RSUs will vest in four equal annual installments beginning on April 3, 2024, subject to the employee's continued employment with Spero on such vesting dates. The RSUs are subject to the trms and conditions of the 2019 Inducement Plan and an RSU agreement covering the grant.
About Spero Therapeutics
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