Spero Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
CAMBRIDGE, Mass., May 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 May 25, 2023, the Compensation Committee of Spero’s Board of Directors approved the grant of an aggregate of 90,000 restricted stock unit awards (RSUs) to two 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 Rule5635(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 June 1, 2024, subject to the employee's continued employment with Spero on such vesting dates. The RSUs are subject to the terms and conditions of the 2019 Inducement lan and an RSU agreement covering the grant.
About Spero Therapeutics
For more information, visit https://sperotherapeutics.com.
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