INOVIO Awards Equity Grants to New Employees Under 2022 Inducement Plan

INOVIO Pharmaceuticals

PLYMOUTH MEETING, PA — INOVIO Pharmaceuticals Inc. (NASDAQ: INO) has announced the recent award of equity grants to two new employees as part of its 2022 Inducement Plan. The company’s Compensation Committee, in compliance with Nasdaq Listing Rule 5635(c)(4), approved restricted stock units (RSUs) and stock options for these employees on April 30, 2024.

The awards include RSUs for 415 shares of common stock and options to buy an additional 3,483 shares. The RSUs are set to vest over three years, with a third becoming available on each anniversary of the employees’ start dates. Similarly, the stock options, priced at $11.45 per share—INOVIO’s closing stock price on the grant date—will vest in four installments. The first quarter vested immediately on the grant date, with subsequent quarters vesting on the anniversaries of the employees’ start dates.

This initiative is contingent upon the recipients’ continued employment with INOVIO through each vesting period. Designed to attract top talent, these equity grants align employee interests with company performance, fostering long-term commitment and growth.

Each award falls under specific terms outlined in the Inducement Plan, ensuring transparency and adherence to regulatory standards. This strategic move underscores INOVIO’s ongoing efforts to strengthen its team and reinforce its position in the competitive pharmaceutical landscape.

For the latest news on everything happening in Chester County and the surrounding area, be sure to follow MyChesCo on Google News and Microsoft Start.

READ:  Larimar Therapeutics Advances Friedreich's Ataxia Treatment After FDA Lifts Hold