SAN FRANCISCO, March 8, 2019 /PRNewswire/ -- Audentes Therapeutics, Inc. (BOLD), a biotechnology company focused on developing and commercializing innovative gene therapy products for patients living with serious, life-threatening rare diseases, announced it has granted equity awards on March 7, 2019, that were previously approved by the Compensation Committee of its Board of Directors under the Audentes Therapeutics, Inc. 2018 Equity Inducement Plan, as a material inducement to employment to six individuals hired by Audentes in February 2019. The equity awards were approved in accordance with Nasdaq Listing Rule 5635(c)(4).
The employees received, in the aggregate, options to purchase 14,600 shares of Audentes common stock. The options have an exercise price of $32.61 per share, which is equal to the closing price of Audentes common stock on March 7, 2019. One-fourth of the shares underlying each employee's option will vest on the one year anniversary of his or her date of hire and thereafter 1/48th of the shares underlying each employee's option will vest monthly, such that the shares underlying the option granted to each employee will be fully vested on the fourth anniversary of his or her date of hire, in each case, subject to each such employee's continued employment with Audentes on such vesting dates.
Two employees also received, in the aggregate, 600 restricted stock units ("RSUs"). One-fourth of the RSUs will vest on March 5, 2020 and 1/16th of the RSUs will vest on each of June 5, September 5, December 5 and March 5 thereafter, such that the RSUs will be fully vested on the fourth anniversary of March 5, 2019, in each case, subject to each such employee's continued employment with Audentes on such vesting dates.
About Audentes Therapeutics, Inc.
Audentes Therapeutics (BOLD) is a biotechnology company focused on developing and commercializing innovative gene therapy products for patients living with serious, life-threatening rare diseases. We are currently conducting Phase 1/2 clinical studies of our lead product candidates, AT132 for the treatment of X-linked Myotubular Myopathy (XLMTM), and AT342 for the treatment of Crigler-Najjar syndrome. We have two additional product candidates in development, including AT845 for the treatment of Pompe disease, and AT307 for the treatment of the CASQ2 subtype of catecholaminergic polymorphic ventricular tachycardia (CASQ2-CPVT). We are a focused, experienced and passionate team committed to forging strong, global relationships with the patient, research and medical communities.
For more information regarding Audentes, please visit www.audentestx.com.
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