Iveric Bio Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
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PARSIPPANY, N.J. ~ Iveric Bio, Inc. (NASDAQ: ISEE) announced on May 19, 2023 that it had granted equity-based awards to three newly-hired, non-executive employees. The awards were approved by the Company's compensation and talent strategy committee and were made as a material inducement to each employee's acceptance of employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).

The inducement grants consisted of 15,745 restricted stock units for shares of the Company's common stock. The restricted stock units vest with respect to 25% of the shares underlying the units on June 1, 2024 and 6.25% of the shares underlying the units on the first day of each of the subsequent 12 calendar quarters (July 1, 2024, October 1, 2024, January 2, 2025, April 1, 2025, July 1, 2025, October 1, 2025, January 2, 2026, April 1, 2026, July 1 ,2026 ,October 1 ,2026 ,January 2 ,2027 and April 1 ,2027). The inducement grants are subject to the terms and conditions of award agreements covering the grants and Iveric Bio's 2019 Inducement Stock Incentive Plan.

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Iveric Bio is a science-driven biopharmaceutical company focused on discovering and developing treatments for retinal diseases with significant unmet medical needs. The Company is committed to having a positive impact on patients' lives by delivering high-quality treatments designed to address debilitating retinal diseases including earlier stages of age-related macular degeneration.

Kathy Galante Senior Vice President of Investor Relations said "We are pleased to welcome these new employees to Iveric Bio as we continue our mission to develop novel treatments for retinal diseases with significant unmet medical needs." Jeannie Neufeld Senior Director of Public Relations and Communications added "We look forward to their contributions as we strive towards our goal of providing high quality treatments for patients suffering from debilitating retinal diseases."
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