PLYMOUTH
MEETING, Pa., Oct. 2, 2024
/PRNewswire/ -- INOVIO (NASDAQ:INO), a biotechnology company
focused on developing and commercializing DNA medicines
to help treat and protect people from HPV-related diseases,
cancer, and infectious diseases, today announced that it has
made equity grants to certain employees under
its 2022 Inducement Plan (the "Inducement Plan").
The Compensation Committee of INOVIO's Board of Directors has
approved the awards of restricted stock units ("RSU"s)
covering an aggregate of 1,526 shares of common stock and
options to purchase an aggregate of 1,600 shares of common
stock, each with a grant date of September 30, 2024 (the
"Grant Date"), to two newly hired employees in accordance with
Nasdaq Listing Rule 5635(c)(4).
The RSUs will vest over a three-year period, with one-third of
the shares vesting on each of the first, second and third
anniversaries of the Grant Date. The stock options have an exercise
price of $5.78, the closing price of
INOVIO's common stock on the Grant Date. The stock options will
vest and become exercisable with respect to one-fourth of the
shares underlying the stock options on the Grant Date, and an
additional one-fourth of the shares underlying the stock options on
the first, second, and third anniversaries of the Grant Date. The
vesting of the RSUs and stock options will be subject to the
employees' continued employment with INOVIO on the applicable
vesting dates. Each of these awards is subject to the terms and
conditions of a stock option agreement or RSU award agreement,
as applicable, under the Inducement Plan.
About INOVIO
INOVIO is a biotechnology company focused
on developing and commercializing DNA medicines to help treat and
protect people from HPV-related diseases, cancer, and infectious
diseases. INOVIO's technology optimizes the design and delivery of
innovative DNA medicines that teach the body to manufacture its own
disease-fighting tools. For more information, visit
www.inovio.com.
Contacts
Media: Jennie
Willson, (267) 429-8567, jennie.willson@inovio.com
Investors: Thomas Hong, (267)
440-4298, thomas.hong@inovio.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/inovio-reports-inducement-grants-under-inducement-plan-302265897.html
SOURCE INOVIO Pharmaceuticals, Inc.