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Iveric Bio Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

June 02, 2023 at 16:52 PM EDT

ⓘ This article is third-party content and does not represent the views of this site. We make no guarantees regarding its accuracy or completeness.

IVERIC bio, Inc. (NASDAQ: ISEE) today reported that on May 19, 2023, the Company granted equity-based awards pursuant to the Company’s 2019 Inducement Stock Incentive Plan to three newly-hired, non-executive employees. These inducement grants were approved by the Company’s compensation and talent strategy committee pursuant to a delegation by the Company’s board of directors and were made as a material inducement to each employee’s acceptance of employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4) as a component of his or her employment compensation.

The inducement grants consisted of 15,745 restricted stock units for shares of the Company’s common stock. The restricted stock units vest with respect to 25% of the shares underlying the units on June 1, 2024 and 6.25% of the shares underlying the units on the first day of each of the subsequent 12 calendar quarters (July 1, 2024, October 1, 2024, January 2, 2025, April 1, 2025, July 1, 2025, October 1, 2025, January 2, 2026, April 1, 2026, July 1, 2026, October 1, 2026, January 2, 2027, and April 1, 2027). The inducement grants are subject to the terms and conditions of award agreements covering the grants and the Company’s 2019 Inducement Stock Incentive Plan.

Iveric Bio

Iveric Bio is a science-driven biopharmaceutical company focused on the discovery and development of novel treatments for retinal diseases with significant unmet medical needs. The Company is committed to having a positive impact on patients’ lives by delivering high-quality, safe and effective treatments designed to address debilitating retinal diseases including earlier stages of age-related macular degeneration. For more information on the Company, please visit www.ivericbio.com.

ISEE-G

View source version on businesswire.com: https://www.businesswire.com/news/home/20230602005377/en/

Contacts

Investor / Media Contact:

Iveric Bio

Kathy Galante

Senior Vice President, Investor Relations

kathy.galante@ivericbio.com

Media Contact:

Jeannie Neufeld

Senior Director, Public Relations and Communications

Jeannie.neufeld@ivericbio.com