Pacific Biosciences Grants Equity Incentive Award to New Employee
February 05 2021 - 5:00PM
Pacific Biosciences of California, Inc. (NASDAQ: PACB) (“Pacific
Biosciences” or the “Company”), a leading provider of high-quality
sequencing of genomes, transcriptomes, and epigenomes, today
announced that the Compensation Committee of the Company’s Board of
Directors granted non-qualified stock options covering an aggregate
of 100,000 shares of Pacific Biosciences common stock and
restricted stock units (“RSU”) covering 50,000 shares of Pacific
Biosciences common stock to a recently hired employee under the
Pacific Biosciences 2020 Inducement Equity Incentive Plan on
December 14, 2020 (the “2020 Inducement Plan”).
The 2020 Inducement Plan is used exclusively to
grant equity awards to individuals who were not previously an
employee or non-employee director of Pacific Biosciences as an
inducement material to such individual’s entering into employment
with Pacific Biosciences in accordance with Nasdaq Marketplace Rule
5635(c)(4).
The options have an exercise price of $ 34.18
per share, which is equal to the closing price of Pacific
Biosciences common stock on February 1, 2021 (the “Effective
Date”). The shares subject to the option shall be scheduled to
vest and become exercisable as to 1/4th of the total number of
shares subject at grant to the Option on the one (1) year
anniversary of the Effective Date and as to 1/48th of the total
shares subject at grant to the Option each month thereafter on the
same day of the month as the Effective Date (or the last day of the
month, if a particular month does not have a corresponding day).
The RSUs shall be scheduled to vest as to 1/4th of the total number
of shares subject at grant to the RSUs on each of the one (1), two
(2), three (3), and four (4) year anniversaries of the Effective
Date. The option grant and the award of restricted stock units are
subject to the terms and conditions of the 2020 Inducement Plan and
the award agreements entered into with the non-executive officer
employee.
About Pacific Biosciences
Pacific Biosciences of California, Inc. (NASDAQ:
PACB) is empowering life scientists with highly accurate long-read
sequencing. The company’s innovative instruments are based on
Single Molecule, Real-Time (SMRT®) Sequencing technology, which
delivers a comprehensive view of genomes, transcriptomes, and
epigenomes, enabling access to the full spectrum of genetic
variation in any organism. Cited in thousands of peer-reviewed
publications, PacBio® sequencing systems are in use by
scientists around the world to drive discovery in human biomedical
research, plant and animal sciences, and microbiology.
ContactInvestors: Trevin
Rard650.521.8450ir@pacificbiosciences.com
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