CAMBRIDGE, Mass., July 03, 2024 (GLOBE NEWSWIRE) -- Spero Therapeutics, Inc. (Nasdaq: SPRO), a multi-asset clinical-stage biopharmaceutical company, focused on identifying and developing novel treatments for rare diseases and multi-drug resistant (MDR) bacterial infections, today announced that on May 28, 2024, the Compensation Committee of Spero’s Board of Directors approved the grant of an aggregate of 227,500 restricted stock unit awards (RSUs) to new employees under the Spero Therapeutics, Inc. 2019 Inducement Equity Incentive Plan, as amended (2019 Inducement Plan). The RSUs are being granted as an inducement material to each of the new employees becoming an employee of Spero in accordance with Nasdaq Listing Rule 5635(c)(4).
The 2019 Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of Spero (or following a bona fide period of non-employment), as an inducement material to such individuals entering into employment with Spero, pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules.
The RSUs will vest in four equal annual installments beginning on July 1, 2025, subject to the employees‘ continued employment with Spero on such vesting dates. The RSUs are subject to the terms and conditions of the 2019 Inducement Plan and an RSU agreement covering the grant.
About Spero Therapeutics
Spero Therapeutics, headquartered in Cambridge, Massachusetts, is a multi-asset, clinical-stage biopharmaceutical company focused on identifying and developing novel treatments for rare diseases and MDR bacterial infections.
For more information, visit https://sperotherapeutics.com.
Investor Relations Contact:
Shai Biran, PhD
Spero Therapeutics
IR@Sperotherapeutics.com
Media Inquiries:
media@sperotherapeutics.com