ADC Therapeutics Makes Grants to New Employees Under Inducement Plan
April 01 2024 - 4:05PM
ADC Therapeutics SA (the “Company”) (NYSE: ADCT) today announced
that the Company has made grants of options to purchase an
aggregate of 53,800 of the Company’s common shares to six new
employees on April 1, 2024 (each, a “Grant”). The Grants were
offered as material inducement to the employees’ employment. The
grants were approved by the Compensation Committee of the Company’s
Board of Directors pursuant to the Company’s Inducement Plan to
motivate and reward the recipients to perform at the highest levels
and contribute significantly to the success of the Company. The
Grants were made in reliance on the employment inducement exemption
under the NYSE’s Listed Company Manual Rule 303A.08. The Company is
issuing this press release pursuant to Rule 303A.08. The Grants
shall vest and become exercisable 25% on the first anniversary of
the grant date, and 1/48th of the aggregate number of shares
subject to the award on each monthly anniversary of the grant date
thereafter, such that the entire award will be vested as of the
fourth anniversary of the grant date, subject to continued
employment with the Company.
About ADC Therapeutics
ADC Therapeutics (NYSE: ADCT) is a commercial-stage global
leader and pioneer in the field of antibody drug conjugates (ADCs).
The Company is advancing its proprietary ADC technology to
transform the treatment paradigm for patients with hematologic
malignancies and solid tumors.
ADC Therapeutics’ CD19-directed ADC ZYNLONTA (loncastuximab
tesirine-lpyl) received accelerated approval by the FDA and
conditional approval from the European Commission for the treatment
of relapsed or refractory diffuse large B-cell lymphoma after two
or more lines of systemic therapy. ZYNLONTA is also in development
in combination with other agents and in earlier lines of therapy.
In addition to ZYNLONTA, ADC Therapeutics has multiple ADCs in
ongoing clinical and preclinical development.
ADC Therapeutics is based in Lausanne (Biopôle),
Switzerland and has operations in London, the San Francisco Bay
Area and New Jersey. For more information, please visit
https://www.adctherapeutics.com/ and follow the Company on
LinkedIn.
ZYNLONTA® is a registered trademark of ADC
Therapeutics SA.
CONTACT:Investors and
MediaNicole RileyADC
TherapeuticsNicole.Riley@adctherapeutics.com +1 862-926-9040
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