Nabriva Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
October 01 2019 - 4:01PM
Nabriva Therapeutics plc (NASDAQ: NBRV), a biopharmaceutical
company engaged in the commercialization and development of
innovative anti-infective agents to treat serious infections, today
announced that it has granted non-statutory stock options to
purchase an aggregate of 51,750 ordinary shares of Nabriva
Therapeutics as inducements to 8 newly-hired employees. The awards
were made pursuant to the Nasdaq inducement grant exception as a
component of the new hires’ employment compensation.
The stock options were granted effective
September 30, 2019 with an exercise price of $2.00 per share, which
is equal to the closing price of Nabriva Therapeutics’s ordinary
shares on the date of grant. Each stock option granted has a
10-year term and vests over four years, with 25% of the original
number of shares vesting on the first anniversary of the grant date
and 2.08% of the original number of shares vesting at the end of
each subsequent monthly period thereafter until fully vested,
subject to the employee's continued service with the Company
through the applicable vesting dates. The stock option awards were
approved by Nabriva Therapeutics’ Compensation Committee and were
granted as an inducement material to each employee’s acceptance of
employment in accordance with Nasdaq Listing Rule 5635(c)(4). Each
of the stock options is subject to the terms and conditions of a
stock option agreement covering the grant and Nabriva Therapeutics’
2019 Inducement Share Incentive Plan.
About Nabriva Therapeutics plc
Nabriva Therapeutics is a biopharmaceutical company engaged in the
commercialization and development of innovative anti-infective
agents to treat serious infections. Nabriva Therapeutics received
U.S. Food and Drug Administration approval for XENLETA (lefamulin),
the first systemic pleuromutilin antibiotic for community-acquired
bacterial pneumonia (CABP). Nabriva Therapeutics is also developing
ContepoTM (fosfomycin) for injection, a potential first-in-class
epoxide antibiotic for complicated urinary tract infections (cUTI),
including acute pyelonephritis. For more information, please visit
https://www.nabriva.com.
CONTACTS:
For InvestorsGary SenderNabriva Therapeutics
plcir@nabriva.com
For MediaMike BeyerSam Brown Inc.
mikebeyer@sambrown.com312-961-2502
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