Avidity Biosciences, Inc., a biopharmaceutical company focused on developing RNA therapeutics through its Antibody Oligonucleotide Conjugates (AOCs™), announced that on April 20, 2025, its Human Capital Management Committee, part of the Board of Directors, granted non-qualified stock options and restricted stock units (RSUs) to a total of thirty-three new non-executive employees. These grants were made under the company's 2022 Employment Inducement Incentive Award Plan (the "2022 Inducement Plan"), as a condition for these individuals' employment with Avidity, in compliance with Nasdaq Listing Rule 5635(c)(4).

The 2022 Inducement Plan is specifically designed to issue equity awards to individuals who were not previously employed by Avidity or were re-employed after a bona fide period of non-employment, as part of their inducement to join the company.

The stock options granted have an exercise price of $26.66 per share, which is the closing price of Avidity's stock on The Nasdaq Global Market as of April 17, 2025. These options will vest over four years, with 25% vesting on the one-year anniversary of the vesting commencement date, and the remaining shares vesting in 36 equal monthly installments thereafter, provided the employees remain employed with Avidity. The RSUs will vest in four equal installments over the first four anniversaries of the vesting commencement date, also subject to continued employment. The grants are governed by the 2022 Inducement Plan and the specific stock option or RSU agreements associated with the awards.

Source: https://www.prnewswire.com/news-releases/avidity-biosciences-announces-inducement-grants-under-nasdaq-listing-rule-5635c4-302433607.html