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FOSTER CITY, Calif. ~ Mirum Pharmaceuticals, Inc. (Nasdaq: MIRM) announced on July 10, 2023 that the Compensation Committee of its Board of Directors granted inducement awards to ten new employees. The awards consisted of non-qualified stock options to purchase 44,850 shares of common stock and 22,430 restricted stock units ("RSUs").
The awards were approved 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 $26.51 per share, Mirum's closing trading price on July 10, 2023. The options 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.
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The RSUs will vest over three years with 33% of the underlying shares vesting on each anniversary of the applicable vesting commencement date. The awards are subject to the terms and conditions of Mirum's 2020 Inducement Plan and an applicable award agreement covering the grant.
The granting of these inducement awards is a testament to Mirum's commitment to its new employees and their continued service relationship with Mirum through the applicable vesting dates.
The awards were approved 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 $26.51 per share, Mirum's closing trading price on July 10, 2023. The options 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.
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The RSUs will vest over three years with 33% of the underlying shares vesting on each anniversary of the applicable vesting commencement date. The awards are subject to the terms and conditions of Mirum's 2020 Inducement Plan and an applicable award agreement covering the grant.
The granting of these inducement awards is a testament to Mirum's commitment to its new employees and their continued service relationship with Mirum through the applicable vesting dates.
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