Athersys Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
February 03 2020 - 6:00AM
Business Wire
Stock option award offered as inducement to
Ivor Macleod, new Chief Financial Officer of Athersys
Athersys, Inc. (“Athersys” or the “Company”) (NASDAQ: ATHX)
announced today that, as previously disclosed in its Form 8-K filed
with the Securities and Exchange Commission on January 16, 2020,
the Company made an inducement grant to Ivor Macleod, the
newly-appointed Chief Financial Officer of Athersys. The Company’s
Board of Directors approved, pursuant to Rule 5635(c)(4) of the
Nasdaq Stock Market Listing Rules, the grant of an inducement
equity award in the form of a nonqualified stock option to purchase
600,000 shares of the Company’s common stock. The option was
granted outside of Athersys’ 2019 Equity and Incentive Compensation
Plan as an inducement material to Mr. Macleod’s acceptance of
employment with the Company.
The stock option has an exercise price equal to the closing
price of Athersys’ common stock on the grant date of January 31,
2020, Mr. Macleod’s first day of employment. The option has up to a
ten-year term and vests over four years, with 25% of the award
generally vesting on January 31, 2021, and the remainder generally
vesting in equal quarterly installments over the remaining three
years, subject to Mr. Macleod’s continued service with Athersys
through the applicable vesting dates (except under certain
conditions regarding his death or disability or a change in control
of Athersys).
About Athersys
Athersys is a biotechnology company engaged in the discovery and
development of therapeutic product candidates designed to extend
and enhance the quality of human life. The Company is developing
its MultiStem® cell therapy product, a patented, adult-derived
"off-the-shelf" stem cell product, initially for disease
indications in the neurological, inflammatory and immune,
cardiovascular and other critical care indications and has several
ongoing clinical trials evaluating this potential regenerative
medicine product. Athersys has forged strategic partnerships and a
broad network of collaborations to further advance the MultiStem
cell therapy toward commercialization. More information is
available at www.athersys.com. Follow Athersys on Twitter at
www.twitter.com/athersys.
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version on businesswire.com: https://www.businesswire.com/news/home/20200203005082/en/
William (B.J.) Lehmann President and Chief Operating Officer
Tel: (216) 431-9900 bjlehmann@athersys.com
Karen Hunady Director of Corporate Communications & Investor
Relations Tel: (216) 431-9900 khunady@athersys.com
David Schull Russo Partners, LLC Tel: (212) 845-4271 or (858)
717-2310 David.schull@russopartnersllc.com
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