Mirum Pharmaceuticals Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4) - Mirum Pharmaceutic
Benzinga Mirum Pharmaceuticals, Inc. MIRM today announced that on June 9, 2023, the Compensation Committee of Mirum's Board of Directors granted inducement awards consisting of non-qualified stock options to purchase 43,150 shares of common stock and 22,030 restricted stock units ("RSUs") to nine new employees under Mirum's 2020 Inducement Plan. The Compensation Committee of Mirum's Board of Directors approved the awards as an inducement material to the new employees' employment in accordance with Nasdaq Listing Rule 5635(c)(4).
Each stock option has an exercise price per share equal to $28.40 per share, Mirum's closing trading price on June 9, 2023, and will vest over four years, with 25% of the underlying shares vesting on the one-year anniversary of the applicable vesting commencement date and the balance of the underlying shares vesting monthly thereafter over 36 months, subject to the new employees' continued service relationship with Mirum through the applicable vesting dates. The RSUs will vest over three years, with 33% of the underlying shares vesting on each anniversary of the applicable vesting commencement date, subject to the new employees' continued service relationship with Mirum through the applicable vesting dates. The awards are subject to the terms and conditions of Mirum's 2020 Inducement Plan and the terms and conditions of an applicable award agreement covering the grant.
