Adicet Bio Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4)
February 28 2023 - 5:31PM
Business Wire
Adicet Bio, Inc. (Nasdaq: ACET), a clinical stage biotechnology
company discovering and developing allogeneic gamma delta T cell
therapies for cancer, today announced it granted inducement awards
on February 28, 2023.
Four individuals hired by Adicet in February 2023 received, in
the aggregate, non-qualified stock options to purchase 105,400
shares of Adicet’s common stock with an exercise price of $7.88 per
share, the closing price of Adicet’s common stock as reported by
Nasdaq on February 28, 2023. 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 (the Inducement Plan), which was
adopted by the board of directors in January 2022 and subsequently
amended in January 2023. 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 (CARs)
and adaptors (CAds), to enhance selective tumor targeting and
facilitate innate and adaptive anti-tumor immune response for
durable activity in patients. For more information, please visit
our website at https://www.adicetbio.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20230228006414/en/
Anne Bowdidge abowdidge@adicetbio.com
Janhavi Mohite Stern Investor Relations, Inc. 212-362-1200
janhavi.mohite@sternir.com
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