LEXINGTON, Mass., March 3, 2021 (GLOBE NEWSWIRE) – Translate Bio (TBIO), a clinical-stage messenger RNA (mRNA) remedy firm creating a brand new class of doubtless transformative medication to deal with or stop debilitating or life-threatening ailments, reported in the present day that on March 1, 2021, the corporate granted non-qualifying inventory choices to buy a complete of 54,250 frequent shares of the corporate to seven newly employed workers. These awards had been granted in accordance with the Firm’s 2021 Incentive Inventory Incentive Plan, had been accepted by the Firm’s Incentive Grants subcommittee of the Board of Administrators, and had been made as a major inducement to simply accept employment by every worker within the firm in accordance with Nasdaq registration rule 5635 (c) (4) as a part of their employment compensation.
The inventory choices have an train worth of $ 23.80 per share, equal to the closing worth of the frequent share of Translate Bio on March 1, 2021. Every inventory possibility has a interval of ten years and is vested over 4 years, with 25% of the shares underlying the choice acquired on March 1, 2022 and in thirty-six equal month-to-month installments thereafter with respect to the remaining shares. The vesting of every award depends on the worker’s continued service with the Firm till the relevant vesting date. Incentive grants are topic to the phrases and situations of the grant agreements masking the grants and to the Firm’s 2021 incentive plan.
About Translate Bio
Translate Bio is a clinical-stage mRNA therapeutics firm creating a brand new class of doubtless transformative medication to deal with ailments brought on by dysfunction of proteins or genes, or to forestall infectious ailments by producing protecting immunity. Translate Bio is primarily targeted on the applying of its know-how to deal with lung illness with a lead lung candidate being evaluated as an inhalation remedy for cystic fibrosis (CF) in a section 1/2 medical trial. Different lung ailments are being evaluated in discovery-stage analysis applications that use a proprietary lung supply platform. Translate Bio additionally believes that its know-how could be utilized extensively to a variety of ailments, together with ailments that have an effect on the liver. Translate Bio can also be pursuing the event of mRNA vaccines for infectious ailments in collaboration with Sanofi Pasteur.
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