On April 14, 2023 HOOKIPA Pharma Inc. (NASDAQ: HOOK, the "Company"), a company developing a new class of immunotherapeutics based on its proprietary arenavirus platform, reported that the Compensation Committee of the Company’s Board of Directors approved the grant of non-statutory options to a new employee to purchase an aggregate of 50,000 shares of the Company’s Common Stock under HOOKIPA’s 2023 Inducement Plan (Press release, Hookipa Biotech, APR 14, 2023, View Source [SID1234630084]). The award was granted as an inducement material to the employee’s acceptance of employment with HOOKIPA in accordance with Nasdaq Listing Rule 5635(c)(4). The options have an exercise price equal to $1.00 per share. The options have a ten year term and vest over four years, with 25% vesting on the one-year anniversary of the grant date and the remainder vesting in equal quarterly installments for three years thereafter, subject to the employee’s continued service with HOOKIPA on each such vesting date. The options are subject to the terms and conditions of HOOKIPA’s 2023 Inducement Plan approved by the Board of Directors in April 2023 and the terms and conditions of award agreements covering the grants.

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