INOVIO Announces New Equity Grant to Support Innovative DNA Medicine Development
On November 29, 2024, INOVIO Pharmaceuticals, Inc. (NASDAQ: INO) made a significant announcement regarding its ongoing commitment to advancing healthcare through innovative biotechnology solutions. The Plymouth Meeting-based company, renowned for its focus on the development and commercialization of DNA medicines designed to combat HPV-related diseases, cancer, and infectious ailments, confirmed it awarded an equity grant to a newly hired employee. This decision is part of INOVIO's 2022 Inducement Plan, which aims to foster talent acquisition and retention by offering stock options as a part of employee compensation.
The grant consists of the option to purchase 1,666 shares of the company's common stock. This option, awarded by INOVIO's Board of Directors Compensation Committee, is aligned with the stipulations outlined in Nasdaq Listing Rule 5635(c)(4). The exercise price for these options is set at $4.32 per share, which reflects the closing stock price as of November 29, 2024, marking the last trading session prior to the grant date.
As indicated in the terms of the award, the newly hired employee will experience a staggered vesting schedule for the stock options. One-fourth of the shares will become exercisable on the grant date, while an additional one-fourth will vest on the first, second, and third anniversaries of the grant date. However, it is essential to note that the vesting of these stock options is contingent upon the employee's continued employment with INOVIO on the vesting dates.
This move highlights INOVIO's strategic focus on fostering innovation and expanding its workforce to develop cutting-edge DNA medicines. The company's technology is at the forefront of transforming healthcare, enabling the body to create its own disease-fighting agents. INOVIO's vision is to empower patients by equipping them with tools to combat various health challenges more effectively.
With this new equity grant, INOVIO continues to attract talent that can help accelerate its mission to produce advanced therapeutics tailored to urgent healthcare needs. The company's dedication to improving treatment options for patients suffering from difficult conditions reflects its ongoing commitment to public health.
For further insights into INOVIO's operations and its pioneering work in biotechnology, interested parties are encouraged to visit their official website at www.inovio.com. The company regularly updates its stakeholders about breakthroughs, product developments, and essential corporate actions that support its long-term vision to revolutionize the landscape of disease treatment and prevention.
Media inquiries can be directed to Jennie Willson at (267) 429-8567, while investors may reach Thomas Hong at (267) 440-4298. INOVIO remains committed to maintaining open lines of communication with both the public and its investors to foster trust and transparency in all its endeavors.
The grant consists of the option to purchase 1,666 shares of the company's common stock. This option, awarded by INOVIO's Board of Directors Compensation Committee, is aligned with the stipulations outlined in Nasdaq Listing Rule 5635(c)(4). The exercise price for these options is set at $4.32 per share, which reflects the closing stock price as of November 29, 2024, marking the last trading session prior to the grant date.
As indicated in the terms of the award, the newly hired employee will experience a staggered vesting schedule for the stock options. One-fourth of the shares will become exercisable on the grant date, while an additional one-fourth will vest on the first, second, and third anniversaries of the grant date. However, it is essential to note that the vesting of these stock options is contingent upon the employee's continued employment with INOVIO on the vesting dates.
This move highlights INOVIO's strategic focus on fostering innovation and expanding its workforce to develop cutting-edge DNA medicines. The company's technology is at the forefront of transforming healthcare, enabling the body to create its own disease-fighting agents. INOVIO's vision is to empower patients by equipping them with tools to combat various health challenges more effectively.
With this new equity grant, INOVIO continues to attract talent that can help accelerate its mission to produce advanced therapeutics tailored to urgent healthcare needs. The company's dedication to improving treatment options for patients suffering from difficult conditions reflects its ongoing commitment to public health.
For further insights into INOVIO's operations and its pioneering work in biotechnology, interested parties are encouraged to visit their official website at www.inovio.com. The company regularly updates its stakeholders about breakthroughs, product developments, and essential corporate actions that support its long-term vision to revolutionize the landscape of disease treatment and prevention.
Media inquiries can be directed to Jennie Willson at (267) 429-8567, while investors may reach Thomas Hong at (267) 440-4298. INOVIO remains committed to maintaining open lines of communication with both the public and its investors to foster trust and transparency in all its endeavors.
Topics Health）
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