LANGHORNE, PA — Savara Inc. (Nasdaq: SVRA), a biopharmaceutical company, has announced the distribution of inducement awards to four new employees as part of their compensation package. These awards, granted on October 17, 2024, were approved by the Compensation Committee of the company’s Board of Directors.
The inducement awards include options and restricted stock units (RSUs), both covering a total of 95,000 shares of Savara’s common stock. These equity incentives were provided under the Savara Inc. 2021 Inducement Equity Incentive Plan, following NASDAQ Listing Rule 5635(c)(4), to encourage the new hires’ commitment to the company.
The stock options are priced at $3.65 per share, matching the closing price on the NASDAQ Global Market on the grant date. Each option has a 10-year duration and will vest at a rate of 1/16th of the total shares every three months, starting from the employee’s initial employment date, contingent on their continued service with the company.
In contrast, the RSUs will fully vest two years after the employee’s start date, provided they remain with the company throughout this period. This structured vesting schedule is designed to align the employees’ interests with the long-term goals of Savara Inc., fostering a mutually beneficial relationship.
These inducement awards reflect Savara’s strategic approach to attracting and retaining talented professionals within the competitive biopharmaceutical industry.
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