Pulse Biosciences Grants Equity Incentive Awards to New Employees
November 18 2019 - 8:32PM
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 11,000 shares
of Pulse Biosciences common stock to two recently hired
non-executive employees on November 15, 2019 and 207,684 shares of
Pulse Biosciences common stock to Sandra Gardiner, Chief Financial
Officer and Executive Vice President of Finance and Administration,
on November 18, 2019. These options were granted under the Pulse
Biosciences 2017 Inducement Equity Incentive Plan.
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 are subject to the terms and conditions of
the 2017 Inducement Equity Incentive Plan and the award agreements
entered into with each recipient. All options are subject to the
recipient’s continued employment with Pulse Biosciences through the
respective vesting dates.
The non-executive employee options have an exercise price of
$14.09 per share, which is equal to the closing price of Pulse
Biosciences common stock on November 15, 2019. The 11,000 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.
The options for Sandra Gardiner, Chief Financial Officer and
Executive Vice President of Finance and Administration, have an
exercise price of $13.94 per share, which is equal to the closing
price of Pulse Biosciences common stock on November 18, 2019. The
103,842 of the 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. The other
103,842 shares underlying the option grants will vest and become
exercisable based on the achievement of performance objectives,
with vesting targets set no less than 25% of the shares vesting per
year upon achievement of such objectives, established by the
Compensation Committee.
About Pulse Biosciences
Pulse Biosciences is a novel bioelectric medicine company
committed to health innovation that improves and potentially
extends the lives of patients. The CellFX System is the first
planned commercial product to harness the distinctive advantages of
the Company’s proprietary Nano-Pulse Stimulation™ (NPS™) technology
to treat a variety of applications for which an optimal solution
remains unfulfilled. NPS technology delivers nano-second pulses of
electrical energy to non-thermally clear cells while sparing
adjacent non-cellular tissue. The cell-specific effects of NPS
technology have been validated in a series of ongoing clinical
trials. The CellFX System 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 a 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 in the
clearance of common and difficult-to-treat skin lesions that share
high demand among patients and practitioners for improved and
durable aesthetic outcomes that lead to greater overall
satisfaction.
Caution: Pulse Biosciences’ CellFX System and Nano-Pulse
Stimulation (NPS) technology are for investigational use only.
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version on businesswire.com: https://www.businesswire.com/news/home/20191118005948/en/
Investor Relations: Pulse Biosciences, Inc. Brian Dow Sr.
Vice President and Chief Financial Officer
IR@pulsebiosciences.com
or
Solebury Trout Gitanjali Jain Ogawa, 646-378-2949
gogawa@troutgroup.com
Media: Tosk Communications Nadine D. Tosk, 504-453-8344
nadinepr@gmail.com
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