Press Release:Solid Biosciences Reports Inducement Grant to New Chief Legal Officer
CAMBRIDGE, Mass., March 04, 2021 (GLOBE NEWSWIRE) -- Solid Biosciences Inc. (Nasdaq: SLDB), a life sciences company focused on advancing meaningful therapies for Duchenne muscular dystrophy (Duchenne), today announced the grant of an inducement award to its newly appointed Chief Legal Officer, Erin Brennan. The grant was approved by a majority of the independent directors of the Company on February 25, 2021 as an inducement material to Ms. Brennan entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).
The inducement grant to Ms. Brennan consisted of an option to purchase up to 325,000 shares of common stock. The option has an exercise price of $8.52 per share, the closing price per share of Solid Biosciences’ common stock as reported by Nasdaq on March 1, 2021. The option has a ten-year term and vests in four equal annual installments on each one-year anniversary of Ms. Brennan’s employment start date until the fourth anniversary of Ms. Brennan’s start date, subject to Ms. Brennan’s continued service with the Company through the applicable vesting dates.
About Solid Biosciences
Solid Biosciences is a life sciences company focused on advancing transformative treatments to improve the lives of patients living with Duchenne. Disease-focused and founded by a family directly impacted by Duchenne, our mandate is simple yet comprehensive – work to address the disease at its core by correcting the underlying mutation that causes Duchenne with our lead gene therapy candidate, SGT-001. For more information, please visit www.solidbio.com.
Source: Solid Biosciences Inc.