Vincerx Pharma Inc (VINC) has shared an update.
Vincerx Pharma, Inc. has implemented a one-time stock option repricing and exchange program, effectively reducing the exercise price of underwater stock options to $0.55 per share for employees and consultants, contingent on a retention period ending at the earliest of August 12, 2025, a company change in control, or the option holder’s death, disability, or unfair termination. This decision, which maintains the original vesting and expiration terms of the options, received overwhelming approval from stockholders at a Special Meeting.
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