Editas Medicine Inc. (NASDAQ: EDIT) granted stock options to its newly appointed chief medical officer Daniel Ory, the company disclosed.
The Cambridge, Massachusetts-based gene editing company awarded Ory options to purchase up to 950,000 shares of common stock at an exercise price of $3.03 per share, matching the closing price on the grant date. The Board of Directors approved the grant as an inducement material to Ory's employment, in accordance with Nasdaq Listing Rule 5635(c)(4).
The options vest over a four-year period. Twenty-five percent vests on the 15th day of the month following the first anniversary of Ory's start date, with the remainder vesting ratably at the end of each subsequent month, contingent on his continued service through the applicable vesting dates.
Editas Medicine develops medicines using CRISPR genome editing technology and holds exclusive licenses to the Broad Institute's Cas12a patent estate, as well as the Broad Institute and Harvard University's Cas9 patent estates for human medicines.
Ory joins the company as it continues to advance its gene editing pipeline under the protected intellectual property portfolio.
