Protara Therapeutics, Inc. Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
September 02 2020 - 5:49PM
Protara Therapeutics, Inc. (Nasdaq: TARA), a development-stage
clinical biopharmaceutical company developing treatments for rare
and specialty diseases with significant unmet needs, today
announced the grants of inducement non-qualified stock options to
purchase an aggregate of 27,500 shares of common stock to two new
employees.
Each stock option has an exercise price per
share equal to $20.51 per share, Protara’s closing trading price on
September 1, 2020, the grant date, and will vest over four years,
with 25% of the underlying shares vesting on the one-year
anniversary of the individual’s start date and 1/36th of the
underlying shares vesting monthly thereafter over 36 months subject
to the new employee's continued service relationship with Protara
through the applicable vesting dates.
The Compensation Committee of Protara’s Board of
Directors approved the awards as an inducement material to the new
employees’ employment in accordance with NASDAQ Listing Rule
5635(c)(4).
About Protara Therapeutics, Inc.
Protara is committed to identifying and advancing transformative
therapies for people with rare and specialty diseases who have
limited treatment options. Protara’s portfolio includes its lead
program, TARA-002, an investigational cell-based therapy being
developed for the treatment of lymphatic malformations, and IV
Choline Chloride, an investigational phospholipid substrate
replacement therapy for the treatment of IFALD. For more
information, visit www.protaratx.com
Company Contact:
Blaine DavisProtara
TherapeuticsBlaine.Davis@protaratx.com646-844-0337
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