DermTech Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
June 07 2022 - 05:00PM
Business Wire
DermTech, Inc. (NASDAQ: DMTK) (“DermTech” or the “Company”), a
leader in precision dermatology enabled by a non-invasive skin
genomics platform, today announced the grant to one new employee of
stock options to purchase an aggregate of 135,397 shares of the
Company’s common stock at an exercise price of $6.35 per share and
the grant to 28 new employees of restricted stock units
representing the contingent right to receive up to an aggregate of
569,240 shares of the Company’s common stock under its 2022
Inducement Equity Incentive Plan, or the 2022 Inducement Plan. The
stock options and restricted stock units were approved by
DermTech’s Compensation Committee effective June 5, 2022 and were
granted as inducements material to the employee’s acceptance of
employment with DermTech in accordance with Nasdaq Listing Rule
5635(c)(4).
The 135,397 shares underlying the stock option award shall vest
over 4 years as follows: (i) twenty-five percent will vest on June
5, 2023 and (ii) the remaining seventy-five percent of the shares
underlying the stock option award will vest at a rate of 1/48th per
month over the subsequent 36 months, subject to the recipient’s
continued service with the Company. The stock options have a
10-year term and are subject to the terms and conditions of the
2022 Inducement Plan and the stock option agreement pursuant to
which the stock option award was granted.
The 569,240 restricted stock units shall vest over 4 years as
follows: (i) twenty-five percent of the restricted stock units will
vest on June 5, 2023 and (ii) the remaining seventy-five percent of
the restricted stock units will vest in equal quarterly
installments until fully vested on June 5, 2026, subject to the
employee’s continued employment with DermTech on these vesting
dates. The restricted stock units are also subject to the terms and
conditions of the 2022 Inducement Plan, and the terms and
conditions of the equity award agreements covering the grants.
About DermTech
DermTech is a leading genomics company in dermatology and is
creating a new category of medicine, precision dermatology, enabled
by its non-invasive skin genomics platform. DermTech’s mission is
to improve the lives of millions by providing non-invasive
precision dermatology solutions that enable individualized care.
DermTech provides genomic analysis of skin samples collected
non-invasively using our Smart StickersTM. DermTech markets and
develops products that facilitate the early detection of skin
cancers and is developing products that assess inflammatory
diseases and customize drug treatments. For additional information
on DermTech, please visit DermTech.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220607006293/en/
Steve Kunszabo DermTech (858) 291-1647
steve.kunszabo@dermtech.com
DermTech (NASDAQ:DMTK)
Historical Stock Chart
From Feb 2024 to Mar 2024
DermTech (NASDAQ:DMTK)
Historical Stock Chart
From Mar 2023 to Mar 2024