Disc Medicine Reports Inducement Grant under Nasdaq Listing Rule 5635(C)(4)
WATERTOWN, Mass., Jan. 17, 2025 (GLOBE NEWSWIRE) -- Disc Medicine, Inc. (NASDAQ:IRON), a clinical-stage biopharmaceutical company focused on the discovery, development, and commercialization of novel treatments for patients suffering from serious hematologic diseases, today announced the grant of an inducement equity award to a new employee, effective January 16, 2025.
The inducement award is comprised of (i) an option to purchase 35,000 shares of Disc's common stock, at an exercise price equal to the closing price of Disc's common stock on January 16, 2025, and (ii) a restricted stock unit (RSU) award for 23,333 shares of Disc's common stock. The stock option has a ten-year term and will vest as to 25% of the shares underlying the stock option on January 16, 2026, with the remainder vesting in 36 equal monthly installments thereafter, subject to continued service through the applicable vesting date. The RSU award shall vest in equal installments on each of the first, second, third, and fourth anniversaries of the vesting date set by Disc's vesting policy, subject to continued service through the applicable vesting date.
The inducement award was approved by the Compensation Committee of Disc's Board of Directors and was made as an inducement material to the employee entering into employment with Disc in accordance with Nasdaq Listing Rule 5635(c)(4). While the inducement award was granted outside of Disc's Amended and Restated 2021 Stock Option and Incentive Plan, the award is subject to terms and conditions substantially consistent with those set forth under such plan.
About Disc Medicine
Disc Medicine is a clinical-stage biopharmaceutical company committed to discovering, developing, and commercializing novel treatments for patients who suffer from serious hematologic diseases. We are building a portfolio of innovative, potentially first-in-class therapeutic candidates that aim to address a wide spectrum of hematologic diseases by targeting fundamental biological pathways of red blood cell biology, specifically heme biosynthesis and iron homeostasis. For more information, please visit www.discmedicine.com.
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