Adicet Bio Reports Inducement Grant under Nasdaq Listing Rule 5635(c)(4)
October 31 2023 - 6:25PM
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 an inducement
award on October 31, 2023.
One individual was hired by Adicet in October 2023 and granted
new hire non-qualified stock options to purchase 5,000 shares of
Adicet’s common stock with an exercise price of $1.32 per share,
the closing price of Adicet’s common stock as reported by Nasdaq on
October 31, 2023. One-fourth of the shares underlying the
employee’s option will vest on the one-year anniversary of the
recipient’s start date and thereafter the remaining three-fourths
of the shares underlying the employee’s option will vest in
thirty-six substantially equal monthly installments, such that the
shares underlying the option granted to the employee will be fully
vested on the fourth anniversary of the recipient’s start date,
subject to the employee’s continued employment with Adicet on such
vesting dates.
The above-described award was 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 award was authorized by the compensation
committee of the board of directors, which is comprised solely of
independent directors, as a material inducement to the employee
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 chimeric antigen 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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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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