Vor Biopharma (NYSE:VOR) Announces Stock Option Repricing

Vor Biopharma Inc. recently disclosed in an SEC filing on February 3, 2025, that its Board of Directors has greenlit a stock option repricing initiative. This move, effective immediately, entails a reduction in the exercise price of select outstanding options tailored to purchase shares of the company’s common stock.

Under the repricing strategy, the exercise price of these options under Vor Biopharma’s 2015 Stock Incentive Plan, 2021 Equity Incentive Plan, and 2023 Inducement Plan has been revised to $1.34 per share. This new exercise price reflects the closing price of the common stock on the effective date of the repricing.

The repricing specifically targets options granted under the aforementioned plans that were owned by continuing employees and possessed an exercise price exceeding $1.34. To be exercisable at the reduced exercise price, option holders must remain in Continuous Service as defined in the plans with the company or as an Eligible Participant for a designated retention period. This retention period commences on the effective date and concludes on the earliest of February 3, 2026, a Change in Control during the holder’s Continuous Service, or 30 days before the original expiration date of the repriced options.

Approximately 6.76 million shares underlie all repriced options, which previously had exercise prices ranging between $1.36 to $44.96 per share. Notably, named executive officers, including Chief Executive Officer Robert Ang, Chief Scientific Officer Tirtha Chakraborty, and Chief Medical Officer Eyal Attar, hold underwater options that fall under the repricing.

The decision to reprice the options was made after extensive discussions, weighing various alternatives, and considering other relevant factors. The Compensation Committee of the Board recommended the repricing, with the original exercise prices applicable during the retention period, to motivate option holders to work in the best interests of the company and its stockholders without diluting stock or incurring additional cash expenditures.

This repricing maneuver by Vor Biopharma carries strategic implications in retaining and incentivizing key stakeholders to further the company’s objectives and shareholder value.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Vor Biopharma’s 8K filing here.

Vor Biopharma Company Profile

Vor Biopharma Inc operates as a clinical-stage cell and genome engineering company. Its lead product is tremtelectogene empogeditemcel (trem-cel), an engineered hematopoietic stem cell (eHSC) product candidate that is in phase 1/2 trial to treat acute myeloid leukemia (AML) and other hematological malignancies.