Voyager Therapeutics, a biotechnology company focused on gene therapy and neurology, has granted non-qualified stock options and restricted stock units to Dr. Beth Shafer as Chief Business Officer. This move is part of an employment agreement between Voyager Therapeutics and Dr. Shafer, designed to incentivize her to join the company.
The Compensation Committee of Voyager’s Board of Directors approved the grant of these inducement awards, in accordance with Nasdaq Stock Market Listing Rule 5635(c)(4). The non-qualified stock option award has already taken effect, while the restricted stock units are scheduled to become effective on October 1, 2023.
The non-qualified stock option allows Dr. Shafer to purchase a total of 122,000 shares of Voyager’s common stock. It has a ten-year term and an exercise price of $8.68 per share, which matches the closing price of Voyager’s common stock on August 7, 2023, the effective date of the grant. Vesting of the stock option will occur over four years, with 25% of the shares becoming eligible on the first anniversary of the grant date, and the remaining 75% vesting in 36 equal monthly installments starting from the first anniversary.
On the other hand, the restricted stock unit award represents 61,000 shares of Voyager’s common stock. This award will vest annually in equal installments over a three-year period, beginning on the first anniversary of the grant date. It is important to note that the vesting of both equity awards is dependent on Dr. Shafer’s continued employment with Voyager.
By granting these stock options and restricted stock units, Voyager Therapeutics aims to motivate and reward Dr. Beth Shafer for her contributions as Chief Business Officer. These equity awards provide her with an opportunity to become a shareholder and align her interests with the company’s long-term success.
This employment agreement and the inducement awards signify Voyager’s commitment to attracting top talent and fostering a strong leadership team. As a biotechnology company focused on gene therapy and neurology, Voyager Therapeutics is dedicated to advancing breakthrough treatments and solutions. With Dr. Shafer’s expertise and experience, the company is poised to continue making significant progress in its mission to overcome barriers in these fields.
About Voyager Therapeutics, Inc.
Voyager Therapeutics is a biotechnology company dedicated to developing life-changing gene therapies for severe neurological diseases. The company’s approach focuses on addressing the underlying causes of these diseases and delivering transformative treatments to patients in need. By leveraging the power of gene therapy, Voyager Therapeutics aims to improve the lives of individuals affected by neurological disorders.
