Seres Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
28 March 2024 - 10:00PM
Business Wire
Seres Therapeutics, Inc. (Nasdaq: MCRB) (“Seres” or the
“Company”), a leading microbiome therapeutics company, today
announced that on March 25, 2024, the Compensation and Talent
Committee of Seres’ board of directors granted inducement equity
grants covering an aggregate of 700,000 shares of its common stock
to Marella Thorell, the Company’s new Executive Vice President and
Chief Financial Officer, consisting entirely of stock options.
These stock options 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 $0.79 per share. The
option will vest as to 25% of the total number of shares subject to
the option on March 25, 2025 (subject to her continued service to
the Company through such date) and as to 6.25% of such shares upon
Ms. Thorell’s completing each three months of continuous 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/20240328100510/en/
IR and PR Rob Windsor Rwindsor@serestherapeutics.com
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