Seres Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
March 19 2024 - 6:00AM
Business Wire
Seres Therapeutics, Inc. (Nasdaq: MCRB) (“Seres” or the
“Company”), a leading microbiome therapeutics company, today
announced that on March 13, 2024, the Compensation and Talent
Committee of Seres’ board of directors granted inducement equity
grants covering an aggregate of 6,188 shares of its common stock to
one new employee, consisting of stock options to purchase 4,125
shares of common stock and restricted stock units (“RSUs”) covering
2,063 shares of its common stock.
These stock options and inducement RSUs are subject to the terms
of the Seres Therapeutics, Inc. 2022 Employment Inducement Award
Plan (the “Inducement Plan”).
The Inducement Plan is used exclusively for the grant of equity
awards to individuals as an inducement material to their entering
into employment with Seres pursuant to Nasdaq Listing Rule
5635(c)(4). The Inducement Plan was adopted by Seres’ board of
directors in December 2022.
The stock options have an exercise price of $0.78 per share.
Each option will vest as to 25% of the total number of shares
subject to the option on the first anniversary of the individual’s
date of hire and as to 6.25% of the total number of shares subject
to the option upon a completion of each three full months of
service to the Company thereafter. The RSUs vest as to 25% of an
award on the first 15th day of a calendar month that immediately
follows the first anniversary of the individual’s date of hire and
as to an additional 6.25% of the award, upon completion of each
three full months of service to the Company thereafter.
About Seres Therapeutics
Seres Therapeutics, Inc. (Nasdaq: MCRB) is a commercial-stage
company developing novel microbiome therapeutics for serious
diseases. For more information, please visit
www.serestherapeutics.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240319200097/en/
IR and PR Contact Rob Windsor
Rwindsor@serestherapeutics.com
Seres Therapeutics (NASDAQ:MCRB)
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