The latest announcement is out from Vaxxinity Inc (VAXX).
On March 8, 2024, Vaxxinity, Inc. implemented a significant option repricing initiative designed to motivate and retain employees and executive officers. Options for both Class A and B common stock, which were previously “underwater”, were repriced at $0.70 per share, matching the stock’s closing price on the repricing date. This adjustment affects approximately 10 million shares and includes stringent retention and lock-up requirements to ensure continued service and alignment with the company’s interests. The move aims to incentivize staff without the need for additional equity grants or increased cash compensation, which could lead to stock dilution or higher financial outlays.
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