Tenaya Therapeutics reports inducement grants under Nasdaq listing rule

Tenaya Therapeutics (TNYA) granted stock options to purchase an aggregate of 12,000 shares of Tenaya common stock to two new non-executive employees in connection with the commencement of their employment. The stock options have an exercise price of $1.97 per share, which is equal to the closing price of Tenaya’s common stock on November 15, 2024. Each stock option has a ten-year term and vests as follows over a total of four years: 1/4th of the original number of shares subject to the stock option shall vest on the one-year anniversary of the employee’s date of hire and 1/48th of the original number of shares subject to the stock option shall vest every month thereafter, subject to such employee’s continued service with Tenaya on each such date.