Gritstone bio Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
17 July 2023 - 9:00PM
Gritstone bio, Inc. (Nasdaq: GRTS), a clinical-stage biotechnology
company that aims to develop the world’s most potent vaccines,
today announced that the Compensation Committee of the company’s
Board of Directors granted four employees nonqualified stock
options to purchase an aggregate of 30,700 shares of its common
stock with an exercise price of $2.02, which is equal to the
closing price of Gritstone’s common stock on July 10, 2023, the
date of the grant. These stock options are part of an inducement
material to the new employees becoming an employee of Gritstone, in
accordance with Nasdaq Listing Rule 5635(c)(4).
The stock options will vest over a four-year
period, with 25% of the options vesting on the first anniversary of
the employees’ date of hire, and 1/48th of the options vesting
monthly thereafter, subject to the employees’ continued employment
with Gritstone on such vesting dates. The stock options are subject
to the terms and conditions of Gritstone’s 2021 Employment
Inducement Incentive Award Plan and the stock option agreement
covering the grant.
About Gritstone bioGritstone bio,
Inc. (Nasdaq: GRTS) is a clinical-stage biotechnology company that
aims to develop the world’s most potent vaccines. We leverage our
innovative vectors and payloads to train multiple arms of the
immune system to attack critical disease targets. Independently and
with our collaborators, we are advancing a portfolio of product
candidates to treat and prevent viral diseases and solid tumors in
pursuit of improving patient outcomes and eliminating disease.
www.gritstonebio.com
Gritstone bio
ContactsInvestors:George E. MacDougallGritstone bio,
Inc.ir@gritstone.com
Media:Dan Budwick1AB(973)
271-6085dan@1abmedia.com
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