GeneDx Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
23 September 2023 - 6:05AM
GeneDx, a leader in delivering improved health outcomes through
genomic and clinical insights, today announced that, effective as
of October 1, the compensation committee of GeneDx’s board of
directors granted newly-hired employees 133,998 restricted stock
units (“RSUs”) as inducements material to each employee entering
into employment with GeneDx. The RSUs were granted under GeneDx’s
2023 Equity Inducement Plan and in accordance with Nasdaq Listing
Rule 5635(c)(4).
The inducement RSUs will vest with respect to 25%
of the underlying shares on the first anniversary of October 1,
2023 (the “Vesting Commencement Date”) and with respect to 6.25% of
the underlying shares on each of the 12 quarterly anniversaries of
the Vesting Commencement Date thereafter, subject to the employee’s
continued service with the Company on each applicable vesting
date.
Each RSU represents a contingent right to receive 1
share of the Issuer's Class A Common Stock upon settlement.
Typically, upon full vesting, shares are sold to cover tax
withholding obligations in connection with the vesting and
settlement of RSUs and funded by a "sell to cover" transaction.
This does not represent a discretionary transaction by the
Reporting Person.
About GeneDx
GeneDx (Nasdaq: WGS) delivers personalized and
actionable health insights to inform diagnosis, direct treatment
and improve drug discovery. The company is uniquely positioned to
accelerate the use of genomic and large-scale clinical information
to enable precision medicine as the standard of care. GeneDx is at
the forefront of transforming healthcare through its
industry-leading exome and genome testing and interpretation,
fueled by one of the world’s largest, rare disease data sets. For
more information, please visit www.genedx.com and connect with us
on LinkedIn, Facebook, Twitter and Instagram.
GeneDx Investor Relations Contact:Tricia
TruehartInvestors@GeneDx.com
GeneDx Media Contact:Teca
LewellynPress@GeneDx.com
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