CAMBRIDGE, Mass., Oct. 06, 2016 (GLOBE NEWSWIRE) -- Editas Medicine, Inc. (NASDAQ:EDIT), a leading genome editing company, announced today the grant of an inducement award to the company’s newly appointed Chief Medical Officer, Gerald F. Cox, M.D., Ph.D. The award was approved by Editas’ Board of Directors on October 5, 2016 as an inducement material to Dr. Cox entering into employment with Editas, in accordance with NASDAQ Listing Rule 5635(c)(4).
The inducement grant to Dr. Cox consisted of an option to purchase up to 225,000 shares of common stock. The inducement grant is exercisable at a price of $15.48 per share, equal to the closing price per share of Editas’ common stock as reported by NASDAQ on October 5, 2016. The stock option vests over four years, with 25% of the shares vesting on October 3, 2017, and the remainder vesting ratably at the end of each subsequent month thereafter, subject to Dr. Cox’s continued service relationship with Editas through the applicable vesting dates.
About Editas Medicine
Editas Medicine is a leading genome editing company dedicated to treating patients with genetically defined diseases by correcting their disease-causing genes. The company was founded by world leaders in genome editing, and its mission is to translate the promise of genome editing science into a broad class of transformative genomic medicines to benefit the greatest number of patients.