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Aura Biosciences Announces Inducement Grants under Nasdaq Listing Rule 5635(4)
Aura Biosciences Announces Inducement Grants under Nasdaq Listing Rule
About this update from Aura Biosciences, Inc.
[{"type":"text","content":"BOSTON - Aura Biosciences, Inc. (NASDAQ: AURA) ('Aura' or the 'Company'), a clinical-stage biotechnology company developing precision therapies for solid tumors designed to preserve organ function, announced that inducement equity awards were granted to Natalie Holles, Aura's new Chief Executive Officer and President, on May 19, 2026 (the 'Grant Date').\nThe Inducement Awards are consistent with the previously disclosed terms of Ms. Holles' offer letter and were approved by the Board of Directors of the Company in accordance with Nasdaq Listing Rule 5635(4).\nThe Inducement Awards consist of (i) non-qualified stock options to purchase an aggregate of 2,169,103 shares of the Company's common stock ('Common Stock') with an exercise price of $7.39 per share, which is equal to the closing price of the Common Stock as reported by Nasdaq on the Grant Date (the 'Option Award'), (ii) restricted stock units ('RSUs') for 600,118 shares of Common Stock, and (iii) performance-based RSUs ('PRSUs') for 553,844 shares of Common Stock. The Option Award will vest as follows: 25% shall vest and become exercisable on April 30, 2027, and 2.0834% shall vest and become exercisable on a monthly basis thereafter over the following 36 months, subject to Ms. Holles' continued service as of each vesting date. The RSUs will vest as follows: 25% shall vest on April 15, 2027 (the 'First Vesting Date'), and 25% shall vest on each of the first year anniversary, second year anniversary, and third year anniversary of the First Vesting Date, subject to Ms. Holles' continued service as of each vesting date. The PRSUs will be subject to both time-based vesting and the achievement of a performance condition, both of which must be satisfied before the PRSUs will be deemed vested. The PRSUs shall vest in four substantially equal annual installments commencing on the First Vesting Date, subject to Ms. Holles' continued service as of each such time-based vesting date and the satisfaction of the performance condition. The expiration date of the PRSUs shall be the earlier of (i) the sixth (6th) anniversary of the Grant Date and (ii) the date Ms. Holles no longer has a service relationship with the Company. Any such PRSUs that have not vested on or prior to such expiration date shall be forfeited for no consideration.\nAbout Aura BiosciencesAura Biosciences, Inc. is a clin...