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Verve Therapeutics , Inc. (NASDAQ:VERV), whose stock has surged over 100% in the past six months according to InvestingPro data, announced Monday that it has established a retention bonus program for key executives in connection with its pending acquisition by Eli Lilly and Company (NYSE:LLY), according to a statement based on a Securities and Exchange Commission filing. The company’s shares are currently trading near their 52-week high of $11.40.
On July 14, Verve Therapeutics granted retention awards of $499,200 to Chief Financial Officer Allison Dorval and $416,000 to Chief Operating Officer and General Counsel Andrew Ashe. The awards are set to pay out in full on the 12-month anniversary of the closing date of the acquisition, provided the executives remain employed through that period. For Dorval, continued compliance with certain restrictive covenants outlined in her retention agreement is also required. InvestingPro data shows the company maintains a strong liquidity position with a current ratio of 9.84, indicating robust financial flexibility in meeting its short-term obligations.
If either executive is terminated without cause after the closing date, Ashe would receive the full unpaid portion of his retention payment at the time of termination. Dorval would receive 50% of her unpaid retention payment immediately upon termination, with the remaining 50% payable on the original payment date, subject to the terms of her agreement.
The retention program is part of the company’s preparations for the proposed merger with Eli Lilly and Ridgeway Acquisition Corporation, as detailed in the merger agreement dated June 16, 2025.
Verve Therapeutics’ common stock trades on the Nasdaq Global Select Market under the symbol VERV. The company’s statement regarding these retention awards was included in a press release and SEC filing.
In other recent news, Verve Therapeutics has been in the spotlight following Eli Lilly’s announcement of an acquisition deal valued at approximately $1.3 billion. This agreement offers Verve shareholders $10.50 per share with a potential additional $3.00 per share contingent on certain clinical milestones. Jefferies downgraded Verve Therapeutics from Buy to Hold, adjusting its price target to $11.00 due to this development. Meanwhile, Canaccord Genuity maintained a Buy rating and a $39.00 price target, expressing confidence in Verve’s clinical trial progress. Similarly, BMO Capital Markets reiterated an Outperform rating with a $30.00 price target, highlighting promising clinical data from Verve’s innovative technology. Guggenheim also adjusted its stance, raising Verve’s price target to $24.00 and maintaining a Buy rating, citing significant LDL cholesterol reduction in recent trials. Additionally, Verve’s Annual Meeting of Stockholders resulted in the election of three directors and the ratification of Ernst & Young LLP as the accounting firm for 2025. The company continues to advance its clinical programs, with significant milestones anticipated before the end of 2025.
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