Pulse Biosciences Grants Equity Incentive Awards to New Employees
May 15 2019 - 4:27PM
Business Wire
Pulse Biosciences, Inc. (Nasdaq: PLSE) (“Pulse Biosciences” or
the “Company”), a novel bioelectric medicine company bringing to
market its proprietary CellFX™ System, announced today that the
Compensation Committee of the Company’s Board of Directors granted
non-qualified stock options covering an aggregate of 110,500 shares
of Pulse Biosciences common stock to five new non-executive
employees under the Pulse Biosciences 2017 Inducement Equity
Incentive Plan on May 15, 2019.
The 2017 Inducement Equity Incentive Plan is used exclusively to
grant equity awards to individuals who were not previously an
employee or non-employee director of Pulse Biosciences as an
inducement material to such individual’s entering into employment
with Pulse Biosciences in accordance with Nasdaq Marketplace Rule
5635(c)(4).
The options have an exercise price of $12.67 per share, which is
equal to the closing price of Pulse Biosciences common stock on May
15, 2019. The 110,500 shares underlying the option grants will vest
and become exercisable as to 25% of the shares annually beginning
on the first anniversary of the recipient’s start date, subject to
the recipient’s continued employment with Pulse Biosciences on
these vesting dates. The options are subject to the terms and
conditions of the 2017 Inducement Equity Incentive Plan and the
award agreements entered into with each recipient.
About Pulse Biosciences
Pulse Biosciences is a novel bioelectric medicine company
committed to health innovation that improves and extends the lives
of patients. The Company utilizes its patented groundbreaking
Nano-Pulse Stimulation™ (NPS™) technology to treat a variety of
applications for which an optimal solution remains unfulfilled. NPS
is a proprietary technology that delivers nano-second pulses of
high amplitude electrical energy to non-thermally clear targeted
cells while sparing adjacent non-cellular tissue. The cell-specific
effects of NPS technology have been validated in a series of
ongoing clinical trials. In addition, early pre-clinical evidence
suggests that the NPS technology holds a promising future in
immuno-oncology by demonstrating an ability to induce immunogenic
cell death. The CellFX System, the first planned commercial product
to harness the distinctive advantages of NPS technology, is
preparing to launch in 2019 as a multi-application platform
designed to address a broad range of dermatologic conditions. As
part of the customer experience, the Company is offering an
utilization-based revenue model and easy-access customer portal
offering a suite of services. CellFX procedures offer customer
value across an expanding spectrum of clinical applications. The
initial commercial use will be the clearance of common skin
lesions, including sebaceous hyperplasia (SH) and seborrheic
keratosis (SK) – two prevalent and difficult-to-treat benign skin
conditions that share high demand among patients and practitioners
for improved and durable aesthetic outcomes that lead to greater
overall satisfaction. For more information about Pulse
Biosciences, proprietary NPS technology, or CellFX, please visit us
at PulseBiosciences.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20190515005974/en/
Investor Relations:Pulse Biosciences, Inc.Brian DowSr.
Vice President and Chief Financial
OfficerIR@pulsebiosciences.com
or
Solebury TroutGitanjali Jain Ogawa,
646-378-2949gogawa@troutgroup.com
Media:Tosk CommunicationsNadine D. Tosk,
504-453-8344nadinepr@gmail.com
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