LANGHORNE, PA — Savara Inc. (Nasdaq: SVRA) has announced the approval of inducement awards to Braden Parker, who recently joined the company as Chief Commercial Officer on September 24, 2024. These awards are part of Savara’s strategy to attract top talent through its 2021 Inducement Equity Incentive Plan.
The Board of Directors approved the inducement awards on September 25, 2024. The package includes options to purchase 170,000 shares of Savara’s common stock and restricted stock units (RSUs) covering 85,000 shares. These are designed as a compelling incentive for Parker’s acceptance of the role, aligning with NASDAQ Listing Rule 5635(c)(4).
The stock options are priced at $4.15 per share, reflecting the closing price on the NASDAQ Global Market as of the grant date. Each option carries a 10-year term and follows a vesting schedule that sees 1/16th of the shares becoming exercisable each quarter, contingent on Parker’s ongoing employment with the company.
In addition to the stock options, the RSUs will vest in full on the two-year anniversary of Parker’s start date, again contingent on continued employment with Savara. This structure ensures alignment between Parker’s interests and the long-term success of the company.
Savara’s decision to grant these inducement awards exemplify its efforts to secure leadership that can drive the company’s commercial strategy forward, benefitting from Parker’s expertise in the industry.
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