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

August 09, 2024 at 16:05 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.

GeneDx (Nasdaq: WGS), a leader in delivering improved health outcomes through genomic insights, today announced that, effective as of June 26, 2024, the compensation committee of GeneDx’s board of directors granted seven newly hired employees 75,100 restricted stock units (“RSUs”) as inducements material to each employee entering into employment with GeneDx. The RSUs were granted under GeneDx’s 2023 Equity Inducement Plan and in accordance with Nasdaq Listing Rule 5635(c)(4).

The inducement RSUs will vest in equal annual installments over the four-year period following the grant date, subject to the employee’s continued service with the Company on each applicable vesting date.

Each RSU represents a contingent right to receive 1 share of the Issuer's Class A Common Stock upon settlement. Typically, upon full vesting, shares are sold to cover tax withholding obligations in connection with the vesting and settlement of RSUs and funded by a "sell to cover" transaction. This does not represent a discretionary transaction by the Reporting Person.

About GeneDx

At GeneDx (Nasdaq: WGS), we believe that everyone deserves personalized, targeted medical care—and that it all begins with a genetic diagnosis. Fueled by one of the world’s largest rare disease data sets, our industry-leading exome and genome tests translate complex genomic data into clinical answers that unlock personalized health plans, accelerate drug discovery, and improve health system efficiencies. It all starts with a single test. For more information, please visit genedx.com and connect with us on LinkedIn, X, Facebook, and Instagram.