Savara Inc. (Nasdaq: SVRA), a clinical stage biopharmaceutical company devoted to finding treatments for rare respiratory diseases, has just granted inducement awards to two of its newest members of the team. This generous gesture of appreciation marks an exciting milestone for the company, as it continues to strive towards its mission of advancing innovative therapies for those living with respiratory diseases.
On May 3, 2023, Savara’s Board of Directors’ Compensation Committee awarded two new employees a generous package of inducement awards. These awards consisted of options to purchase 195,000 shares of the Company’s common stock and 125,000 restricted stock units (RSUs), granted in accordance with the Savara Inc. 2021 Inducement Equity Incentive Plan, as an incentive to join the Company.
Our options come with an exercise price of $1.89 per share, the closing trading price of the Company’s common stock on the NASDAQ Global Market at the grant date. These options are valid for 10 years, and vest in 1/16th of the number of shares subject to the option on each quarterly anniversary of the employee’s first day of employment, as long as they remain employed on such vesting date. The RSUs vest in full on the two-year anniversary of the employee’s first day of employment, as long as they remain employed on such vesting date.
Savara is a clinical stage biopharmaceutical company with a mission to make a difference in the lives of those battling rare respiratory diseases. Our lead program, molgramostim nebulizer solution, is an inhaled granulocyte-macrophage colony-stimulating factor (GM-CSF) in Phase 3 development for autoimmune pulmonary alveolar proteinosis (aPAP). This innovative therapy is delivered through an investigational eFlow® Nebulizer System (PARI Pharma GmbH).
Our experienced management team is dedicated to identifying the unmet needs of rare respiratory diseases and effectively advancing product candidates to approval and commercialization. Together, we are working to create a brighter future for those suffering from these debilitating conditions.