Intellia Therapeutics Grants Inducement Awards to New Staff
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Intellia Therapeutics Inducement Grants Announcement
Intellia Therapeutics, Inc. (NASDAQ:NTLA), a prominent player in the field of gene editing, has recently disclosed the granting of inducement awards intended to attract talented professionals to join its growing team. These inducement grants are notable steps under the company's 2024 Inducement Plan, designed to support its strategic objectives in advancing CRISPR-based therapies.
Details of the Inducement Grants
The inducement grants comprise a series of non-qualified stock options, representing ownership of 49,751 shares of Intellia's common stock. These options are structured with vesting timelines that facilitate a rewarding experience for new hires. Specifically, 33% will vest by September 1, 2025, with the remaining shares vesting monthly until the full complement is vested by September 1, 2027.
Additionally, the company has issued time-based restricted stock units (RSUs) for 44,154 shares, with vesting occurring across the years 2025, 2026, and 2027. Performance-based RSUs, totaling 17,064 shares, are linked to Intellia's stockholder returns, assessed over a three-year horizon against comparable companies in the Nasdaq Biotechnology Index. Furthermore, another set of performance-based RSUs for 12,500 shares will be contingent upon achieving specific developmental milestones.
Commitment to Employees
The successful vesting and earning of these equity awards hinge on each employee’s ongoing engagement with Intellia. The company emphasizes that maintaining service as an employee or other service provider is vital through the vesting schedule, which reinforces a commitment to mutual growth and success.
All grants made fall outside of Intellia's stockholder-approved equity incentive plans, reflecting strategic decision-making by the board of directors, who adopted the 2024 Inducement Plan in June. The compensation committee approves these awards as part of the company's strategy to fortify its workforce in alignment with Nasdaq Listing Rule 5635(c)(4).
About Intellia Therapeutics
Intellia Therapeutics, Inc. (NASDAQ:NTLA) stands as a leading clinical-stage gene editing enterprise, dedicated to transforming medical treatments through groundbreaking CRISPR-based therapies. Its innovative in vivo programs allow for precise editing of disease-causing genes within the human body, while its ex vivo programs work on engineering human cells outside the body for addressing cancers and autoimmune disorders. Intellia brings deep scientific insight, technical prowess, and extensive clinical development experience to set industry standards for this transformative class of medicine.
As the company seeks to enhance its platforms further, it focuses on refining editing and delivery technologies to unlock the comprehensive potential of gene editing, underscoring its commitment to scientific and medical advancement.
Frequently Asked Questions
What are the details of the inducement grants provided by Intellia?
The inducement grants include stock options for 49,751 shares, RSUs for 44,154 shares, and performance-based RSUs contingent on stockholder returns and development milestones.
When does the vesting of these options and RSUs occur?
One-third of the options and RSUs will vest on September 1, 2025, with subsequent vesting taking place monthly or annually until fully vested by September 1, 2027.
Why are these inducement grants significant for Intellia?
These grants are designed to attract and retain talent by providing financial incentives, aligning employee interests with those of the company and its shareholders.
How does Intellia Therapeutics utilize CRISPR technology?
Intellia employs CRISPR technology to edit genes associated with diseases both within the body and outside the body, aiming to treat various conditions such as cancer and autoimmune diseases.
Who can be contacted for more information regarding Intellia's developments?
For inquiries, investors can contact Ian Karp, Senior Vice President, Investor Relations and Corporate Communications, or Lina Li, Senior Director, at their respective emails.
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