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CAMBRIDGE, Mass., Sept. 22, 2022 (GLOBE NEWSWIRE) -- Voyager Therapeutics, Inc. (Nasdaq: VYGR), a gene therapy and neuroscience company developing life-changing treatments and next-generation adeno-associated virus (AAV) capsids, has entered into employment agreements with Peter Pfreundschuh and another newly hired employee that, among other things, provide for the grant to such employees of non-qualified stock options and restricted stock units as inducements material to such employees' entering into employment with Voyager. The inducement awards were approved by the Compensation Committee of Voyager's Board of Directors in accordance with Nasdaq Stock Market Listing Rule 5635(c)(4). The option award to each employee became effective on September 19, 2022, and the restricted stock unit award to each employee is scheduled to become effective on October 1, 2022.
The stock option award to Mr. Pfreundschuh provides for the purchase of an aggregate of 200,000 shares of Voyager's common stock, and the restricted stock unit award to Mr. Pfreundschuh will represent 125,000 shares of Voyager's common stock. The stock option award to the other employee provides for the purchase of an aggregate of 76,000 shares of Voyager's common stock, and the restricted stock unit award to such employee will represent 38,000 shares of Voyager's common stock. Each stock option has a ten-year term and an exercise price of $6.18 per share, which is equal to the closing price of Voyager's common stock on September 19, 2022, the effective date of grant. Each stock option vests over four years, with 25% of the shares underlying the stock option vesting on the first anniversary of the effective date of grant and 75% of the shares underlying the stock option vesting in 36 equal monthly installments following the first anniversary of the effective date of grant. Each restricted stock unit award vests annually in equal installments over three years, beginning on the first anniversary of the effective date of grant. Vesting of each employee's equity awards is subject to his or her continued employment with Voyager. Each equity award is also subject to the terms and conditions of an award agreement.
About Voyager Therapeutics
Voyager Therapeutics (Nasdaq: VYGR) is leading the next generation of AAV gene therapy to unlock the potential of the modality to treat devastating diseases. Proprietary capsids born from Voyager's TRACER capsid discovery platform are powering a rich early-stage pipeline of programs and may elevate the field to overcome the narrow therapeutic window associated with conventional gene therapy vectors across neurologic disorders and other therapeutic areas. voyagertherapeutics.com LinkedIn Twitter
Voyager Therapeutics® is a registered trademark, and TRACER™ is a trademark, of Voyager Therapeutics, Inc.
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