Savara Inc. granted inducement awards to four new employees on June 11, 2026, covering a total of 87,000 shares of common stock. The awards, consisting of options, restricted stock units (RSUs), and performance stock units (PSUs), were approved by the Compensation Committee of Savara's Board of Directors. These grants were issued as an inducement material to the employees' acceptance of employment with the company.

Award Details

The inducement awards include options to purchase 36,500 shares, RSUs covering 42,500 shares, and PSUs covering 8,000 shares. The equity awards were granted under the Savara Inc. 2021 Inducement Equity Incentive Plan pursuant to Rule 5635(c)(4) of the NASDAQ Listing Rules.

Vesting Schedules

The options have an exercise price of $5.27 per share, which was the closing trading price of Savara's common stock on the NASDAQ Global Market on the grant date. Each option vests as to 1/16th of the shares subject to the option on each quarterly anniversary of the employee's first day of employment, subject to continued employment. The RSUs vest in full on the two-year anniversary of the employee's first day of employment. The PSUs vest in full upon the date the company reports quarterly revenue above a specified target, all subject to the employee's continued employment on the respective vesting dates.

Savara Inc., a clinical stage biopharmaceutical company focused on rare respiratory diseases, announced that Chief Financial and Administrative Officer Dave Lowrance is stepping down from his role for health-related reasons, effective July 15, 2026. The transition involves separating the financial and administrative responsibilities of the role. Robert Lutz, M.B.A., the Company's Chief Operating Officer, will assume the additional role of Chief Financial Officer. Administrative responsibilities will be distributed among members of the senior leadership team.

Matt Pauls, J.D., M.B.A., Chair and Chief Executive Officer of Savara, expressed gratitude for Lowrance's nearly ten years of leadership, noting his guidance through capital raises, the company's Nasdaq listing, and the advancement of its late-stage pipeline. Lowrance will remain available to the company in an advisory capacity following his departure.

Leadership Transition Details

The separation of duties aims to streamline operations as the company navigates this leadership change. Robert Lutz, currently the Chief Operating Officer, will take on the financial oversight responsibilities effective immediately following Lowrance's departure. Pauls highlighted Lutz's background as a two-time Chief Financial and Business Officer and his deep understanding of the company's operations and strategy as key factors for his expanded role.

Key Personnel Changes

Mr. Lutz has served as Savara's Chief Operating Officer since February 2023. He brings more than two decades of operational leadership experience in the pharmaceutical industry, including experience with finance strategy, equity and debt raises, financial planning and analysis, investor relations, and business development deal execution. Prior to joining Savara, Mr. Lutz served as Chief Financial and Business Officer of iBio, Inc. and Strongbridge Biopharma plc.