Vera Therapeutics Announces Inducement Grants Under Nasdaq Rule 5635(c)(4)

Vera Therapeutics, Inc. (Nasdaq: VERA), a prominent biotechnology company, recently declared that on June 4, 2024, its Compensation Committee granted inducement awards to five incoming employees under the company’s 2024 Inducement Plan. The awards include non-qualified stock options for purchasing 31,250 shares of Class A common stock and restricted stock units (RSUs) for 14,500 shares of Class A common stock. These awards were sanctioned as a significant incentive for the new employees’ commitment to the company in line with Nasdaq Listing Rule 5635(c)(4).

The stock options are priced at $39.47 per share, reflecting Vera’s closing market price on the date of the grant. The options are set to vest over a four-year period. Specifically, 25% of the stock options will vest on the first anniversary of the vesting commencement date, with the remaining shares vesting monthly over the succeeding 36 months, contingent upon the employee’s ongoing service with Vera.

Similarly, the RSUs will vest over four years, with 25% of the shares vesting on each anniversary of August 20, 2024. These vesting schedules are also dependent on the employees maintaining their service relationships with the company. Both the stock options and RSUs are governed by the stipulations of the Inducement Plan and the specific award agreements.

Vera Therapeutics, headquartered in Brisbane, California, is a late-stage clinical biotechnology firm devoted to developing transformative treatments for severe immunological diseases. The company aims to advance therapies that address the underlying causes of these diseases, thereby setting new standards of care for patients.

The flagship product of Vera Therapeutics is atacicept, a fusion protein administered subcutaneously once a week. Atacicept targets and blocks B-cell Activating Factor (BAFF) and A Proliferation-Inducing Ligand (APRIL), both of which are crucial in stimulating B cells and plasma cells to generate autoantibodies. These autoantibodies play a role in autoimmune diseases such as Immunoglobulin A Nephropathy (IgAN), also known as Berger’s disease, and lupus nephritis. Vera is also examining the potential benefits of atacicept in treating other diseases where reducing autoantibodies could be beneficial.

Additionally, Vera is developing MAU868, a monoclonal antibody aimed at neutralizing the BK virus (BKV). BKV is a polyomavirus that can cause severe complications, particularly in kidney transplant recipients. Vera Therapeutics retains the global rights for the development and commercialization of both atacicept and MAU868.

In summary, Vera Therapeutics is making strides in the field of immunological disease treatment through innovative drug development. The recent inducement awards are part of the company’s strategy to attract and retain top talent essential for advancing its clinical programs and achieving its mission.