Serina Therapeutics Makes Grants to New Employees Under Inducement Plan

HUNTSVILLE, AL, Nov. 11, 2024 (GLOBE NEWSWIRE) -- Serina Therapeutics, Inc. (“Serina”) (NYSE American: SER), a clinical-stage biotechnology company advancing its lead IND candidate SER-252 for advanced Parkinson's disease, enabled by its proprietary POZ Platform™ drug optimization technology, announced that it has made grants of options to purchase an aggregate of 60,500 shares of Serina’s common stock to three new non-executive employees on November 6, 2024 (each, an “Option Grant”). Each Option Grant has an exercise price equal to the closing price of Serina’s common stock on November 6, 2024. The Option Grants were offered as material inducement to the employees’ employment. The Option Grants were approved by the Compensation Committee of Serina’s Board of Directors on November 6, 2024 pursuant to Serina’s 2024 Inducement Equity Plan to align their interests with Serina’s stockholders and to promote the success of Serina’s business. The Option Grants were made in reliance on the employment inducement exemption under the NYSE American’s Company Guide Section 711(a) which requires public disclosure of inducement awards. Serina is issuing this press release pursuant to Section 711(a) of NYSE American’s Company Guide. The Option Grants shall vest and become exercisable with respect to one-third of the aggregate number of shares subject to each Option Grant on the first anniversary of the grant date, and the remaining two-thirds of the aggregate number of shares subject to each Option Grant shall vest in a series of 24 substantially equal monthly installments thereafter, such that the Option Grant will be vested as of the third anniversary of the grant date, subject to continued employment with Serina.

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Serina Therapeutics Makes Grants to New Employees Under Inducement Plan