Organovo Holdings Grants Stock Options to Executive Chairman

An update from Organovo Holdings (ONVO) is now available.

Keith Murphy, Executive Chairman of Organovo Holdings, Inc., received options to buy company stock on August 5, 2024, under the 2022 Equity Incentive Plan. Murphy’s options include a time-based option for 574,923 shares (4% of outstanding shares) and a performance-based option for 431,193 shares (7% of outstanding shares), with an exercise price of $0.5368 per share. The time-based option vests over three years, and the performance-based option vests upon meeting specific company targets, both contingent on his ongoing service. Additionally, Murphy may receive extra options to maintain his percentage ownership post any equity financing before March 31, 2025, with these “True-Up Options” having similar vesting terms but a different exercise price based on the closing stock price at the financing date.

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