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The grants are subject to the terms of the Seres Therapeutics, Inc. 2022 Employment Inducement Award Plan (the "Inducement Plan"). The Inducement Plan was adopted by Seres' board of directors in December 2022 and is used exclusively for the grant of equity awards to individuals as an inducement material to their entering into employment with Seres pursuant to Nasdaq Listing Rule 5635(c)(4).
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The stock options have an exercise price of $5.61 per share and will vest as to 25% of the total number of shares subject to the option on the first anniversary of the applicable individual's date of hire and as to 6.25% of the total number of shares subject to the option upon a completion of each three full months of service to the Company thereafter. The RSUs vest as to 25% on the first 15th day after a calendar month that immediately follows the first anniversary date and as to an additional 6.25% upon completion each three full months thereafter.
Seres Therapeutics is a leading microbiome therapeutics company that is committed to providing innovative treatments for patients with serious diseases.
Filed Under: Business
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