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89bio (NASDAQ:ETNB), Inc., a biopharmaceutical company, has granted restricted stock units (RSUs) to several key executives as part of a retention strategy, according to a recent 8-K filing with the Securities and Exchange Commission.
The grants were approved by the company's Board of Directors on December 12, 2024, for retention purposes, and were awarded to three of its top officers: Chief Medical (TASE:PMCN) Officer Hank Mansbach, Chief Technical Operations Officer Quoc Le-Nguyen, and Chief Financial Officer Ryan Martins. Each executive received 95,000 Retention RSUs.
The RSUs are set to vest over a two-year period, with equal semiannual installments beginning from the grant date, contingent on the executives’ continued service to the company.
The RSUs are a common form of equity compensation used by public companies to align the interests of employees and shareholders by providing an incentive for employees to increase shareholder value.
This recent development is based on the information provided in the 8-K filing made by 89bio, Inc. with the SEC.
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