Precision BioSciences Announces Grant of Inducement Awards Under Nasdaq Listing Rule 5635(c)(4)
July 25 2022 - 7:00AM
Business Wire
Precision BioSciences, Inc. (Nasdaq: DTIL), a clinical stage
gene editing company developing ARCUS®-based ex vivo allogeneic CAR
T and in vivo gene editing therapies, today announced that, on July
19, 2022, the Compensation Committee of Precision’s Board of
Directors approved the grant of inducement awards to new employees
under the Precision BioSciences, Inc. 2021 Employment Inducement
Incentive Award Plan (“Inducement Award Plan”). The inducement
awards consist of options to purchase (“stock options”) an
aggregate of 583,302 shares of Precision’s common stock, par value
$0.000005 (the “Common Stock”), which stock options were granted
among eleven employees who commenced employment in the second
quarter 2022. Each of the stock options were granted under Nasdaq
Listing Rule 5635(c)(4) as an inducement for the employees to
commence service with Precision.
The stock options have a per share exercise price equal to the
fair market value of Precision’s Common Stock on the grant date,
which was equal to $1.54. Each of the stock options has a 10-year
term and vests (subject to continued service to Precision through
the applicable vesting dates) as to 25% of the award on the first
anniversary of the date of the commencement of their employment
and, as to the remaining 75%, in substantially equal quarterly
installments over the three years thereafter.
About Precision BioSciences, Inc. Precision BioSciences,
Inc. is a clinical stage biotechnology company dedicated to
improving life (DTIL) with its novel and proprietary ARCUS® genome
editing platform. ARCUS is a highly precise and versatile genome
editing platform that was designed with therapeutic safety,
delivery, and control in mind. Using ARCUS, the Company’s pipeline
consists of multiple ex vivo “off-the-shelf” CAR T immunotherapy
clinical candidates and several in vivo gene editing candidates
designed to cure genetic and infectious diseases where no adequate
treatments exist. For more information about Precision BioSciences,
please visit www.precisionbiosciences.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220725005254/en/
Investor Contact: Mei Burris Director, Investor Relations
and Finance mei.burris@precisionbiosciences.com Media
Contact: Maurissa Messier Senior Director, Corporate
Communications Maurissa.Messier@precisionbiosciences.com
Precision BioSciences (NASDAQ:DTIL)
Historical Stock Chart
From Aug 2024 to Sep 2024
Precision BioSciences (NASDAQ:DTIL)
Historical Stock Chart
From Sep 2023 to Sep 2024