CAMBRIDGE, Mass., Oct. 18, 2022 (GLOBE NEWSWIRE) -- Voyager Therapeutics, Inc. (Nasdaq: VYGR), a gene therapy and neuroscience company developing life-changing treatments and next-generation adeno-associated virus (AAV) capsids, has entered into an employment agreement with a newly hired employee that, among other things, provides for the grant to such employee of a non-qualified stock option and restricted stock units as an inducement material to such employee’s entering into employment with Voyager. The inducement awards were approved by the Compensation Committee of Voyager’s Board of Directors in accordance with Nasdaq Stock Market Listing Rule 5635(c)(4). The option award became effective on October 17, 2022, and the restricted stock unit award is scheduled to become effective on January 1, 2023.
The stock option award provides for the purchase of an aggregate of 60,000 shares of Voyager’s common stock, and the restricted stock unit award will represent 30,000 shares of Voyager’s common stock. The stock option has a ten-year term and an exercise price of $6.01 per share, which is equal to the closing price of Voyager's common stock on October 17, 2022, the effective date of grant. The stock option vests over four years, with 25% of the shares underlying the stock option vesting on the first anniversary of the effective date of grant and 75% of the shares underlying the stock option vesting in 36 equal monthly installments following the first anniversary of the effective date of grant. The restricted stock unit award vests annually in equal installments over three years, beginning on the first anniversary of the effective date of grant. Vesting of the equity awards is subject to the employee’s continued employment with Voyager. Each equity award is also subject to the terms and conditions of an award agreement.
About Voyager Therapeutics
Voyager Therapeutics (Nasdaq: VYGR) is leading the next generation of AAV gene therapy to unlock the potential of the modality to treat devastating diseases. Proprietary capsids born from Voyager’s TRACER capsid discovery platform are powering a rich early-stage pipeline of programs and may elevate the field to overcome the narrow therapeutic window associated with conventional gene therapy vectors across neurologic disorders and other therapeutic areas. voyagertherapeutics.com LinkedIn Twitter
Voyager Therapeutics® is a registered trademark, and TRACER™ is a trademark, of Voyager Therapeutics, Inc.
Source: Voyager Therapeutics, Inc.