Ibio (IBIO) just unveiled an update.
The Company’s Board recently approved new award agreements to streamline the issuance of stock options and restricted stock units as part of its 2023 Plan, aiming to offer flexible terms and vesting schedules to directors, executives, employees, and consultants. These agreements stipulate various conditions for the exercise price payment options and set forth the consequences for award forfeiture or immediate vesting upon different types of employment termination, including scenarios involving disability, death, voluntary or ‘for cause’ termination, and corporate sale events.
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