INOVIO Reports Inducement Grants

INOVIO Pharmaceuticals

PLYMOUTH MEETING, PA — INOVIO (NASDAQ: INO) announced that it recently made equity grants to two newly hired employees, including a Vice President of Clinical Development, under its 2022 Inducement Plan.

On August 31, 2022, the Compensation Committee of INOVIO’s Board of Directors approved the award of restricted stock units (“RSUs”) covering an aggregate of 5,000 shares of common stock and options to purchase an aggregate of 26,250 shares of common stock 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 option has an announced exercise price of ­­­$2.29, the closing price of INOVIO’s common stock on the Grant Date. The stock option reportedly will vest and become exercisable with respect to one-fourth of the shares underlying the stock option vested on the Grant Date, and an additional one-fourth of the shares underlying the stock option on the first, second and third anniversaries of the Grant Date. The vesting of the RSUs and stock options will be subject to the employee’s 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 and RSU award agreement, as applicable, under the Company’s Inducement Plan.

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