INOVIO (NASDAQ:INO),a biotechnology company focused on developing and commercializing DNA medicines tohelp treat and protect people from HPV-related diseases, cancer, and infectious diseases, today announced that it has madean equity grant toa newly hired employeeunder its 2022 Inducement Plan (the “Inducement Plan”).
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The Compensation Committee of INOVIO's Board of Directors has approvedtheaward of an option to purchase 1,666shares of common stock with a grant date of November30, 2024(the “Grant Date”), to anewlyhired employee in accordance with Nasdaq Listing Rule 5635(c)(4).
The stock option has an exercise price of $4.32, the closing price of INOVIO's common stock on November 29, 2024 (the last trading date preceding the Grant Date, which is not a trading day). The stock option will vest and become exercisable with respect to one-fourth of the shares underlying the stock option on the Grant Date, and an additional one-fourth of the shares underlying the stock option on the first, second, and third anniversaries of the Grant Date. The vesting of the stock option will be subject to the employee's continued employment with INOVIO on the applicable vesting dates. This award is subject to the terms and conditions of a stock option agreementunder the Inducement Plan.
About INOVIOINOVIO is a biotechnology company focused on developing and commercializing DNA medicines to help treat and protect people from HPV-related diseases, cancer, and infectious diseases. INOVIO's technology optimizes the design and delivery of innovative DNA medicines that teach the body to manufacture its own disease-fighting tools. For more information, visit www.inovio.com.
ContactsMedia: Jennie Willson, (267) 429-8567, jennie.willson@inovio.comInvestors: Thomas Hong, (267) 440-4298, thomas.hong@inovio.com
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SOURCE INOVIO Pharmaceuticals, Inc.
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