CAMBRIDGE, Mass., June 02, 2022 (GLOBE NEWSWIRE) -- Solid Biosciences Inc. (Nasdaq: SLDB), a life sciences company focused on advancing meaningful therapies for Duchenne muscular dystrophy (Duchenne), today announced the grant of inducement awards to its newly appointed Senior Vice President, Quality, Mark Tucker, PhD. The grant was approved by a majority of the independent directors of the Company on April 25, 2022 as an inducement material to Dr. Tucker entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).
The inducement grant to Dr. Tucker consisted of an option to purchase up to 120,000 shares of common stock and a restricted stock unit award with respect to 60,000 shares of common stock. The option has a ten-year term and an exercise price of $0.57 per share, the closing price per share of Solid Biosciences’ common stock as reported by Nasdaq on June 1, 2022. The option and restricted stock unit award each vest in four equal installments on each one-year anniversary of Dr. Tucker’s employment start date until the fourth anniversary of Dr. Tucker’s start date, subject to Dr. Tucker’s continued service with the Company through the applicable vesting dates.
About Solid Biosciences
Solid Biosciences is a life sciences company focused on advancing transformative treatments to improve the lives of patients living with Duchenne. Disease-focused and founded by a family directly impacted by Duchenne, our mandate is simple yet comprehensive – work to address the disease at its core by correcting the underlying mutation that causes Duchenne with our lead gene therapy candidate, SGT-001, as well as our recently announced next-generation gene therapy candidate, SGT-003. For more information, please visit www.solidbio.com.
Source: Solid Biosciences Inc.