LANGHORNE, PA — Savara Inc. (Nasdaq: SVRA) has granted equity awards to four newly hired employees, the company announced on November 20, 2024. These awards, given as part of the Savara Inc. 2021 Inducement Equity Incentive Plan, include stock options and restricted stock units (RSUs) to encourage and support the employees’ integration into the company.
The compensation package consists of options to purchase a total of 80,000 shares of Savara’s common stock, along with RSUs covering 70,000 shares. This grant is aligned with Rule 5635(c)(4) of the NASDAQ Listing Rules and was a condition of employment extended to the new hires.
The stock options carry an exercise price of $3.13 per share, reflecting the closing trading price on the NASDAQ Global Market as of the grant date. The options are structured with a 10-year term and will vest incrementally — 1/16th of the total shares will become vested each quarter, starting on the quarterly anniversary of the employee’s start date, provided the employee remains with the company.
Meanwhile, the RSUs will fully vest two years from the employee’s start date, subject to continued employment at Savara.
These inducement awards exemplify Savara’s efforts to attract and retain top talent to support the company’s goals and future operations.
For the latest news on everything happening in Chester County and the surrounding area, be sure to follow MyChesCo on Google News and MSN.