Cytori Therapeutics Announced Inducement Grant for New Employee
August 05 2016 - 04:30PM
Business Wire
Cytori Therapeutics, Inc. (NASDAQ:CYTX), a late stage cell
therapy company developing autologous cell therapies from adipose
tissue to treat a variety of medical conditions, announced today
that the Compensation Committee of the Company's Board of Directors
granted to Mark Marino, M.D., Senior Vice President of Clinical
Affairs, a non-qualified stock option to purchase an aggregate of
33,333 shares of the Company's common stock (the “Option Shares”)
with a per share exercise price of $2.18, the closing price of
Cytori’s common stock on August 4th, 2016, the date of the grant.
The stock option has a ten-year term and vests over a period of
four years, with one quarter of the Option Shares scheduled to vest
on May 23, 2017 (the first anniversary of Dr. Marino’s employment
commencement date with Cytori), and the remainder of the Option
Shares vesting over the ensuing three years in thirty-six (36)
equal, consecutive, monthly installments, in each case subject to
Dr. Marino’s continued employment with Cytori as of the respective
vesting dates. The stock option is subject to the terms and
conditions of Cytori's 2015 New Employee Incentive Plan and the
stock option agreement pursuant to which the stock option is
granted.
The stock option was granted as an inducement material to Dr.
Marino’s entering into employment with Cytori in accordance
with NASDAQ Listing Rule 5635(c)(4).
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Cytori TherapeuticsTiago
Girao+1.858.458.0900ir@cytori.com
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