LANGHORNE, PA — Savara Inc. (Nasdaq: SVRA) has announced the issuance of inducement awards to a new team member, aligning with the company’s strategic growth initiatives.
On September 5, 2024, the Compensation Committee of Savara’s Board of Directors approved options to purchase 20,000 shares of common stock and restricted stock units (RSUs) for an additional 20,000 shares. This grant was made under Savara’s 2021 Inducement Equity Incentive Plan, as per NASDAQ Listing Rule 5635(c)(4), serving as a critical incentive for the employee’s commitment to the company.
The stock options, set at an exercise price of $4.54 per share—the closing price on the grant date—come with a 10-year term. They vest incrementally, with 1/16th of the shares vesting each quarter, contingent on continued employment. Meanwhile, the RSUs are set to vest fully two years after the employee’s start date, again contingent on continued employment, providing a substantial long-term incentive to secure the employee’s dedication to Savara’s mission and objectives.
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