PALO ALTO, Calif., Oct. 11, 2023 (GLOBE NEWSWIRE) -- BridgeBio Pharma, Inc. (Nasdaq: BBIO) (“BridgeBio” or the “Company”), a commercial-stage biopharmaceutical company focused on genetic diseases and cancers, today announced that on October 06, 2023, the compensation committee of BridgeBio’s board of directors granted nineteen new employees restricted stock units for an aggregate of 227,507 shares of the Company’s common stock. With respect to 120,975 shares of restricted stock units, one-fourth of the shares underlying the restricted stock units will vest on November 16, 2024, with one-twelfth of the remaining shares underlying restricted stock units vesting on a quarterly basis thereafter. With respect to 106,532 shares of restricted stock units, one-eighth of the shares underlying the restricted stock units will vest on February 16, 2024, with one-fourteenth of the remaining shares underlying the restricted stock units vesting on a quarterly basis thereafter. In each case, the vesting is subject to each such employee’s continued employment with the Company or one of its subsidiaries on such vesting dates. All of the above-described awards were made under BridgeBio’s Amended and Restated 2019 Inducement Equity Plan (the “Plan”).
The above-described awards were each granted as an inducement material to the employees entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4) and were granted pursuant to the terms of the Plan. The Plan was adopted by BridgeBio’s board of directors in November 2019 and amended and restated on February 10, 2023.
About BridgeBio Pharma, Inc.
BridgeBio Pharma, Inc. is a commercial-stage biopharmaceutical company founded to discover, create, test, and deliver transformative medicines to treat patients who suffer from genetic diseases and cancers with clear genetic drivers. BridgeBio’s pipeline of development programs ranges from early science to advanced clinical trials. BridgeBio was founded in 2015 and its team of experienced drug discoverers, developers and innovators are committed to applying advances in genetic medicine to help patients as quickly as possible. For more information visit bridgebio.com and follow us on LinkedIn and Twitter.