Adicet Bio Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4)
May 04 2022 - 4:10PM
Business Wire
Adicet Bio, Inc. (Nasdaq: ACET), a clinical-stage biotechnology
company discovering and developing allogeneic gamma delta CAR T
cell therapies for cancer, today announced it granted inducement
awards on April 29, 2022 (the “Grant Date”) under Adicet’s 2022
Inducement Plan as a material inducement to employment to four
individuals hired by Adicet in April 2022.
The employees received, in the aggregate, non-qualified stock
options to purchase 62,000 shares of Adicet’s common stock with an
exercise price of $14.74 per share, the closing price of Adicet’s
common stock as reported by Nasdaq on April 29, 2022. One-fourth of
the shares underlying each employee’s option will vest on the
one-year anniversary of each recipient’s start date and thereafter
the remaining three-fourths of the shares underlying each
employee’s option will vest in thirty-six substantially equal
monthly installments, such that the shares underlying the option
granted to each employee will be fully vested on the fourth
anniversary of the recipient’s start date, in each case, subject to
each such employee’s continued employment with Adicet on such
vesting dates.
All of the above-described awards were granted outside of
Adicet’s stockholder-approved equity incentive plans pursuant to
Adicet’s 2022 Inducement Plan, which was adopted by the board of
directors in January 2022. The awards were authorized by the
compensation committee of the board of directors, which is
comprised solely of independent directors, as a material inducement
to the employees entering into employment with Adicet in accordance
with Nasdaq Listing Rule 5635(c)(4).
About Adicet Bio, Inc.
Adicet Bio, Inc. is a clinical-stage biotechnology company
discovering and developing allogeneic gamma delta T cell therapies
for cancer. Adicet is advancing a pipeline of “off-the-shelf” gamma
delta T cells, engineered with chimeric antigen receptors and T
cell receptor-like antibodies to enhance selective tumor targeting,
facilitate innate and adaptive anti-tumor immune response, and
improve persistence for durable activity in patients.
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Adicet Bio., Inc. Investor and Media Contacts
Anne Bowdidge abowdidge@adicetbio.com
Janhavi Mohite Stern Investor Relations, Inc. 212-362-1200
janhavi.mohite@sternir.com
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