PepGen Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4) to Newly Appointed Senior Vice President, Clinical Development
21 Noviembre 2024 - 3:05PM
Business Wire
PepGen Inc. (Nasdaq: PEPG), a clinical-stage biotechnology
company advancing the next generation of oligonucleotide therapies
with the goal of transforming the treatment of severe neuromuscular
and neurological diseases, today announced it awarded an inducement
grant under PepGen’s 2024 Inducement Plan as a material inducement
to employment to its newly appointed Senior Vice President,
Clinical Development, Steve Han, MD, PhD, MMSc.
On November 20, 2024, Dr. Han received a non-qualified stock
option grant to purchase 95,000 shares of PepGen’s common stock,
par value $0.0001 per share, with an exercise price of $4.40 per
share, the closing price of PepGen’s common stock as reported by
The Nasdaq Global Select Market on November 20, 2024. The
inducement grant stock option has a ten-year term and is scheduled
to vest over four years, with 25% of the shares vesting on the
one-year anniversary of Dr. Han’s employment commencement date and
the remainder vesting in equal monthly installments over the
following three years, subject to Dr. Han’s continued service to
PepGen through the applicable vesting dates.
This inducement grant was granted outside of PepGen’s
stockholder-approved equity incentive plans pursuant to PepGen’s
2024 Inducement Plan, which was adopted by PepGen’s Board of
Directors in August 2024. This award was approved by the
Compensation Committee of the Board of Directors, which consists
entirely of independent directors, as a material inducement to Dr.
Han’s entering into employment with PepGen in accordance with
Nasdaq Listing Rule 5635(c)(4).
About PepGen
PepGen is a clinical-stage biotechnology company advancing the
next-generation of oligonucleotide therapies with the goal of
transforming the treatment of severe neuromuscular and neurological
diseases. PepGen’s Enhanced Delivery Oligonucleotide (EDO) platform
is founded on over a decade of research and development and
leverages cell-penetrating peptides to improve the uptake and
activity of conjugated oligonucleotide therapeutics. Using these
EDO peptides, PepGen is generating a pipeline of oligonucleotide
therapeutic candidates that are designed to target the root cause
of serious diseases.
For more information, please visit www.pepgen.com. Follow PepGen
on LinkedIn and X.
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version on businesswire.com: https://www.businesswire.com/news/home/20241121499632/en/
Investor Dave Borah, CFA SVP, Investor Relations and
Corporate Communications dborah@pepgen.com
Media Julia Deutsch Lyra Strategic Advisory
Jdeutsch@lyraadvisory.com
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