WALTHAM, Mass., March 27, 2024 (GLOBE NEWSWIRE) -- Dyne Therapeutics, Inc. (Nasdaq: DYN), a clinical-stage muscle disease company focused on advancing innovative life-transforming therapeutics for people living with genetically driven diseases, today announced that it has granted an inducement equity award to its newly appointed President and Chief Executive Officer, John G. Cox. The award was approved by the Compensation Committee of Dyne and was made as an inducement material to Mr. Cox's acceptance of employment with Dyne under Dyne's 2024 Inducement Stock Incentive Plan in accordance with Nasdaq Listing Rule 5635(c)(4).
The inducement equity award was granted to Mr. Cox effective as of March 25, 2024 and consisted of a non-statutory stock option to purchase up to 679,853 shares of the Dyne's common stock at a per share exercise price equal to $26.06, the closing price of Dyne's common stock on The Nasdaq Global Select Market on March 25, 2024. The stock option has a ten-year term and is scheduled to vest over four years, with 25% of the original number of shares vesting on the one-year anniversary of Mr. Cox's employment commencement date and the remainder vesting in equal monthly installments over the three years thereafter, subject to Mr. Cox's continued service to Dyne through the applicable vesting dates.
The inducement equity award is subject to the terms and conditions of the award agreement covering the grants and Dyne's 2024 Inducement Stock Incentive Plan.
About Dyne Therapeutics
Dyne Therapeutics is a clinical-stage muscle disease company focused on advancing innovative life-transforming therapeutics for people living with genetically driven diseases. With its proprietary FORCE platform, Dyne is developing modern oligonucleotide therapeutics that are designed to overcome limitations in delivery to muscle tissue. Dyne has a broad pipeline for serious muscle diseases, including clinical programs for myotonic dystrophy type 1 (DM1) and Duchenne muscular dystrophy (DMD) and a preclinical program for facioscapulohumeral muscular dystrophy (FSHD). For more information, please visit https://www.dyne-tx.com/, and follow us on X, LinkedIn and Facebook.
Contact:
Dyne Therapeutics
Amy Reilly
areilly@dyne-tx.com
857-341-1203
