Personalis Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
December 16 2022 - 04:05PM
Business Wire
Personalis, Inc. (Nasdaq: PSNL), a leader in advanced genomics
for cancer, today announced that the Compensation Committee of its
Board of Directors granted, between the dates of December 5, 2022
and December 16, 2022, non-qualified stock options to purchase an
aggregate of 35,000 shares of its common stock and restricted stock
units (RSUs) covering an aggregate of 42,100 shares of its common
stock to three new employees under Personalis’ 2020 Inducement
Plan.
The 2020 Inducement Plan is used exclusively for the grant of
equity awards to individuals who were not previously an employee,
or non-employee director, of Personalis, as an inducement material
to such individual’s entering into employment with Personalis,
pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules. Personalis
is making this announcement as required by Nasdaq rules.
The inducement stock options have an exercise price of $2.83 per
share, which is equal to the closing price of Personalis’ common
stock on the date of grant, December 5, 2022, and will vest over
four years, with 25% of the shares vesting on the first anniversary
of the grant date and 1/48th of the remaining shares vesting
monthly thereafter, subject to continued service through each
applicable vesting date. The RSUs will vest over four years, with
25% of the shares vesting one year after the grant date and an
additional 25% of the shares vesting annually thereafter, subject
to continued service through each applicable vesting date. The
options and RSUs are subject to the terms and conditions of
Personalis’ 2020 Inducement Plan, and the terms and conditions of
the applicable award agreement covering each grant.
About Personalis
Personalis, Inc. is a leader in advanced cancer genomics,
enabling the next generation of precision cancer therapies and
diagnostics. The Personalis NeXT Platform® is designed to adapt to
the complex and evolving understanding of cancer, providing its
biopharmaceutical customers and clinicians with information on all
of the approximately 20,000 human genes, together with the immune
system, from a single sample. To enable cancer sequencing,
Personalis' Clinical Laboratory was built with a focus on clinical
accuracy, quality, big data, scale and efficiency. The laboratory
is GxP-aligned as well as Clinical Laboratory Improvement
Amendments of 1988-certified and College of American
Pathologists-accredited. For more information, visit the Personalis
website and follow Personalis on LinkedIn and Twitter.
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version on businesswire.com: https://www.businesswire.com/news/home/20221216005435/en/
Investor Relations Contact: Caroline Corner
investors@personalis.com 415-202-5678
Media Contact: Jennifer Temple pr@personalis.com
650-752-1300
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