Vital Therapies Reports Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)
June 12 2018 - 4:30PM
Vital Therapies, Inc. (Nasdaq:VTL), a biotherapeutic company
developing ELAD®, a cell-based therapy targeting the treatment of
acute forms of liver failure, today reported a grant under its
Amended and Restated 2017 Inducement Equity Incentive Plan to a new
employee who joined Vital Therapies on June 11, 2018.
The grant made June 11, 2018 is an award of a
nonstatutory stock option to purchase up to a total of 60,000
shares of Vital Therapies’ common stock. The option has an exercise
price of $5.28 per share, the closing price of Vital Therapies’
common stock on the date of grant. The option grant will vest over
four years with 1/48th of the total shares vesting monthly, subject
to continued service. The stock option has a ten-year term and is
subject to the terms and conditions of the Amended and Restated
2017 Inducement Equity Incentive Plan and a stock option agreement
covering the grant.
The grant was approved by the Board of Directors
of Vital Therapies on June 9, 2018. In accordance with NASDAQ
Listing Rule 5635(c)(4), the grant was made as an inducement
material to entering into an employment relationship with Vital
Therapies.
About Vital Therapies, Inc.
Vital Therapies, Inc. is a biotherapeutic
company developing a cell-based therapy targeting the treatment of
acute forms of liver failure. The Company's ELAD System is an
extracorporeal human allogeneic cellular liver therapy currently in
phase 3 clinical trials. Vital Therapies, Inc. is based in San
Diego, California. Vital Therapies® and ELAD® are trademarks of
Vital Therapies, Inc.
Contact:Vital Therapies, Inc. Al Kildani
Vice President, Investor Relations and Business Development
858-673-6840akildani@vitaltherapies.com
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