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Voyager Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635 (c)(4)
CAMBRIDGE, Mass., April 03, 2019 (GLOBE NEWSWIRE) -- Voyager Therapeutics, Inc. (NASDAQ:VYGR), a clinical-stage gene therapy company focused on developing
About this update from Voyager Therapeutics, Inc.
[{"type":"text","content":"CAMBRIDGE, Mass., April 03, 2019 (GLOBE NEWSWIRE) -- Voyager Therapeutics, Inc. (NASDAQ:VYGR), a clinical-stage gene therapy company focused on developing life-changing treatments for severe neurological diseases, granted restricted stock units and a non-qualified stock option to Robert Hesslein as inducements material to his entering an employment agreement with Voyager to serve as its general counsel. The inducement awards were approved by the Compensation Committee of Voyager's Board of Directors in accordance with Nasdaq Stock Market Listing Rule 5635(c)(4) and became effective upon the commencement of Mr. Hesslein's employment on April 1, 2019.Mr. Hesslein received a restricted stock unit award for 28,125 shares of Voyager common stock and a non-qualified stock option to purchase 168,750 shares of Voyager common stock. The restricted stock units vest annually in equal installments over three years beginning on the first anniversary of the effective date of grant. The stock option has a ten-year term and an exercise price of $19.79 per share, which is equal to the closing price of Voyager's common stock on the effective date of grant. The stock option vests over a four-year period, with 25% of the shares underlying the option vesting on the first anniversary of the effective date of grant and the remaining 75% of the shares underlying the option vesting in 36 equal monthly installments following the first anniversary of the effective date of grant. Vesting of the restricted stock units and the stock option is subject to Mr. Hesslein's continued employment with Voyager. The restricted stock units and the stock option are subject to the terms and conditions of a restricted stock unit agreement and a stock option agreement, respectively.About Voyager TherapeuticsVoyager Therapeutics is a clinical-stage gene therapy company focused on developing life-changing treatments for severe neurological diseases. Voyager is committed to advancing the field of AAV gene therapy through innovation and investment in vector engineering and optimization, manufacturing, and dosing and delivery techniques. Voyager's wholly-owned and collaborative pipeline focuses on severe neurological diseases in need of effective new therapies, including Parkinson's disease, a monogenic form of ALS called SOD1, Huntington's disease, Friedreich's ataxia, Alzheim...