Virios Therapeutics (VIRI) has shared an announcement.
Virios Therapeutics, Inc. has implemented a 10% salary cut for all employees, including executive officers, starting March 1, 2024, alongside a similar cut for its non-employee Board members’ cash compensation. To offset these reductions, the Board granted stock options to purchase company shares to executives and non-employee directors as per their Equity Incentive Plan, with options vesting fully after one year and an exercise price set at $0.357 per share.
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