SAN DIEGO, Jan. 20, 2025 /PRNewswire/ — Avidity Biosciences, Inc. (Nasdaq: RNA), a biopharmaceutical firm dedicated to delivering a brand new class of RNA therapeutics known as Antibody Oligonucleotide Conjugates (AOCs™), at the moment introduced that on January 20, 2025, the Human Capital Administration Committee of Avidity’s Board of Administrators granted a non-qualified inventory choice award to buy an combination of 10,500 shares of its frequent inventory and 5,250 restricted inventory items (“RSUs”) to at least one (1) new non-executive worker underneath the Avidity Biosciences, Inc. 2022 Employment Inducement Incentive Award Plan (the “2022 Inducement Plan”). The awards have been granted as inducements materials to the staff getting into into employment with Avidity in accordance with Nasdaq Itemizing Rule 5635(c)(4).
The 2022 Inducement Plan is used completely for the grant of fairness awards to people who weren’t beforehand staff of Avidity, or following a bona fide interval of non-employment, as an inducement materials to such people’ getting into into employment with Avidity, pursuant to Nasdaq Itemizing Rule 5635(c)(4).
The choice has an train worth of $28.92 per share, which is the same as the closing worth of Avidity’s frequent inventory on The Nasdaq World Market on January 17, 2025. The shares topic to the inventory choice will vest over 4 years, with 25% of the shares vesting on the one-year anniversary of December 20, 2024 or the vesting graduation date, and the steadiness of the shares vesting in a collection of 36 successive equal month-to-month installments thereafter, topic to the worker’s continued employment with Avidity on such vesting dates. The RSUs will vest in 4 equal installments on the primary 4 anniversaries of the vesting graduation date, topic to the worker’s continued employment with Avidity on such vesting dates. The awards are topic to the phrases and situations of the 2022 Inducement Plan and the phrases and situations of a inventory choice settlement or RSU settlement, as relevant, protecting the grant.
About Avidity
Avidity Biosciences, Inc.’s mission is to profoundly enhance folks’s lives by delivering a brand new class of RNA therapeutics – Antibody Oligonucleotide Conjugates (AOCs™). Avidity is revolutionizing the sphere of RNA with its proprietary AOCs, that are designed to mix the specificity of monoclonal antibodies with the precision of oligonucleotide therapies to handle targets and illnesses beforehand unreachable with current RNA therapies. Using its proprietary AOC platform, Avidity demonstrated the first-ever profitable focused supply of RNA into muscle and is main the sphere with scientific growth packages for 3 uncommon neuromuscular illnesses: myotonic dystrophy sort 1 (DM1), Duchenne muscular dystrophy (DMD) and facioscapulohumeral muscular dystrophy (FSHD). Avidity can be advancing two wholly-owned precision cardiology growth candidates addressing uncommon genetic cardiomyopathies. As well as, Avidity is broadening the attain of AOCs with its advancing and increasing pipeline together with packages in cardiology and immunology via key partnerships. Avidity is headquartered in San Diego, CA. For extra details about our AOC platform, scientific growth pipeline and other people, please go to www.aviditybiosciences.com and interact with us on LinkedIn and X.
Investor Contact:
Kat Lange(619) 837-5014
traders@aviditybio.com
Media Contact:
Di Andrews(619) 837-5016
media@aviditybio.com
