Adicet Bio Announces Inducement Grant Under Nasdaq Listing Rule 5635(C)(4)
September 18 2020 - 4:10PM
Adicet Bio, Inc. (“Adicet”) (Nasdaq: ACET), a biotechnology company
discovering and developing allogeneic gamma delta T cell therapies
for cancer and other diseases, today announced that on September
17, 2020, the Compensation Committee of Adicet’s Board of Directors
granted non-qualified stock options of 195,898 shares of its common
stock to Nick Harvey pursuant to an Inducement Non-Qualified Stock
Option Agreement (the “Harvey Stock Option”). On September 16,
2020, Adicet announced the appointment of Mr. Harvey as Chief
Financial Officer responsible for leading the company’s financial
strategy and management of activities related to accounting,
capital markets and business operations.
The Harvey Stock Option was issued as an
inducement non-qualified stock option, pursuant to Rule 5635(c)(4)
of the NASDAQ Listing Rules, as an inducement material to Mr.
Harvey entering into employment with Adicet. The Harvey Stock
Option will vest over a period of four years, with 25% of the
shares underlying such option vesting on the first anniversary of
the grant and the remaining 75% vesting in thirty-six equal monthly
installments thereafter, and is subject to Mr. Harvey’s continued
employment with Adicet or one of its subsidiaries. The Harvey Stock
Option is subject to the terms and conditions of the form of award
agreement covering the grant.
About Adicet Bio, Inc.Adicet
Bio, Inc. is a biotechnology company discovering and developing
allogeneic gamma delta T cell therapies for cancer and other
diseases. Adicet is advancing a pipeline of “off-the-shelf” gamma
delta T cells, engineered with chimeric antigen receptors and T
cell receptor-like antibodies to enhance selective tumor targeting,
facilitate innate and adaptive anti-tumor immune response, and
improve persistence for durable activity in patients. For more
information, please visit our website at
http://www.adicetbio.com.
Adicet Bio,
Inc.Investor and Media ContactsAnne
Bowdidgeabowdidge@adicetbio.com
Janhavi MohiteStern Investor Relations, Inc.212-362-1200
Source: Adicet Bio, Inc.
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