On June 6, 2025 Replimune Group, Inc. (NASDAQ: REPL), a clinical stage biotechnology company pioneering the development of novel oncolytic immunotherapies, reported the grant of inducement equity awards to newly hired non-executive employees (Press release, Replimune, JUN 6, 2025, View Source [SID1234653762]).

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The Company granted equity awards to 10 employees as a material inducement to commencing their employment with the Company under the Company’s 2025 Inducement Grant Incentive Compensation Plan (the "Inducement Plan"). The inducement awards consist of non-qualified stock options to purchase an aggregate of 36,485 shares of the Company’s common stock and restricted stock units representing an aggregate of 41,080 shares of the Company’s common stock. Each option has an exercise price of $9.75 per share, which is equal to the closing price of the Company’s common stock on June 5, 2025 (the "Date of Grant"). Each option has a 10-year term and will vest over four years, with 25% of the underlying shares vesting on the one-year anniversary of the Date of Grant, and the remainder vesting in monthly installments for three years thereafter. The restricted stock units vest in approximately four equal annual installments beginning on May 15, 2026.

The aforementioned inducement awards were approved by the compensation committee of the Company’s board of directors in reliance on the employment inducement exception under Nasdaq Listing Rule 5635(c)(4). The inducement awards are subject to the terms and conditions set forth under the Inducement Plan.