SAN FRANCISCO, Aug. 4, 2020 /PRNewswire/ -- Invitae Corporation
(NYSE: NVTA), a leading medical genetics company, today announced
that it granted restricted stock units ("RSUs") to Kenneth D. Knight, Invitae's new Chief Operating
Officer and Karthik Suri, Invitae's
new Chief Digital Officer. The RSUs were granted under Invitae's
2015 Stock Incentive Plan, which was amended and restated to create
an additional pool of 475,000 shares of Invitae common stock to be
used exclusively for the grant of inducement awards in compliance
with New York Stock Exchange Rule 303A.08 ("Rule 303A.08"). The
RSUs were approved by the Board of Directors of Invitae and were
made as an inducement material to each employee entering into
employment with Invitae in reliance on the employment inducement
exemption under Rule 303A.08.
In connection with his appointment as Chief Operating Officer,
Mr. Knight was granted an inducement award of 250,000 RSUs, with
one-third of the RSUs vesting on each of the first three
anniversaries of May 15, 2020,
subject to his continued service as an employee of Invitae through
the applicable vesting dates. Mr. Knight was granted an additional
75,000 RSUs which will vest with respect to 50% of the common stock
underlying the RSUs on December 15,
2020, and with respect to the remainder, on June 15, 2021.
Mr. Suri was granted an award of 150,000 RSUs in connection with
his appointment as Chief Digital Officer, with one-third of the
RSUs vesting on each of the first three anniversaries of
May 15, 2020, subject to his
continued service as an employee of Invitae through the applicable
vesting dates.
All RSU grants described above will be subject to the terms and
conditions of the 2015 Stock Incentive Plan and the applicable
stock award agreements.
About Invitae
Invitae Corporation (NYSE: NVTA) is a
leading medical genetics company, whose mission is to bring
comprehensive genetic information into mainstream medicine to
improve healthcare for billions of people. Invitae's goal is to
aggregate the world's genetic tests into a single service with
higher quality, faster turnaround time, and lower prices. For more
information, visit the company's website at invitae.com.
Source: Invitae Corporation
Contact:
Laura
D'Angelo
ir@invitae.com
(628) 213-3369
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SOURCE Invitae Corporation