Soleno Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
10 Novembro 2023 - 6:05PM
Soleno Therapeutics, Inc. (“Soleno”) (NASDAQ: SLNO), a
clinical-stage biopharmaceutical company developing novel
therapeutics for the treatment of rare diseases, today announced,
as required by Nasdaq Stock Market rules, the grant of inducement
awards to two new employees.
The Compensation Committee, consisting of independent members of
the Board of Directors of Soleno, approved the grant of
non-qualified stock options to purchase 145,000 shares of common
stock to two employees, as an inducement for them entering into
employment with the Company in accordance with Nasdaq Listing Rule
5635(c)(4).
The options have an exercise price of $21.93 per share, which is
equal to the closing price of Soleno’s common stock on the Nasdaq
Stock Market on November 8, 2023, the date of grant. The option
award will vest over a four-year period, with 25% of the shares
subject to the award vesting on the one-year anniversary of the
date of grant, and thereafter an additional 1/48th of the shares
subject to the award vesting on each succeeding monthly anniversary
of the date of grant, subject to such employee’s continued
employment with Soleno through such vesting dates. The option
awards are subject to the terms and conditions of Soleno’s existing
2020 Inducement Equity Incentive Plan and the terms and conditions
of the stock option covering the grant.
About Soleno Therapeutics, Inc. Soleno is
focused on the development and commercialization of novel
therapeutics for the treatment of rare diseases. The company’s lead
candidate, DCCR extended-release tablets, a once-daily oral tablet
for the treatment of PWS, recently completed its Phase 3
development program to support a planned NDA submission. For more
information, please visit www.soleno.life.
Corporate Contact:Brian RitchieLifeSci
Advisors, LLC212-915-2578
Soleno Therapeutics (NASDAQ:SLNO)
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