Precision BioSciences Announces Grant of Inducement Awards Under Nasdaq Listing Rule 5635(c)(4)
17 Maio 2024 - 8:00AM
Business Wire
Precision BioSciences, Inc. (Nasdaq: DTIL), an advanced gene
editing company utilizing its novel proprietary ARCUS® platform to
develop in vivo gene editing therapies for sophisticated gene
edits, including gene insertion, excision, and elimination, today
announced that, on May 13, 2024, the Compensation Committee of
Precision’s Board of Directors approved the grant of inducement
awards to new employees under the Precision BioSciences, Inc. 2021
Employment Inducement Incentive Award Plan (“Inducement Award
Plan”). The inducement awards consist of an option to purchase
(“stock option”) 18,511 shares of Precision’s common stock, par
value $0.000005 (the “Common Stock”), which was granted to an
employee in connection with their commencement of employment, as
well as an aggregate total of 17,124 restricted stock units
(“RSUs”), granted among three employees in connection with their
commencement of employment. Each award was granted under Nasdaq
Listing Rule 5635(c)(4) as an inducement for the employees to
commence service with Precision.
The stock option has a per share exercise price equal to the
fair market value of Precision’s Common Stock on May 13, 2024,
which was equal to $11.50. The stock option has a 10-year term and
vests (subject to continued service to Precision through the
applicable vesting dates) as to 25% of the award on the first
anniversary of the date of the commencement of their employment
and, as to the remaining 75%, in substantially equal quarterly
installments over the three years thereafter. Each employee’s RSUs
vest (subject to continued service to Precision through the
applicable vesting dates) in substantially equal annual
installments on each of the first three anniversaries of the date
of the commencement of such individual’s employment.
About Precision BioSciences, Inc.
Precision BioSciences, Inc. is an advanced gene editing company
dedicated to improving life (DTIL) with its novel and proprietary
ARCUS® genome editing platform that differs from other technologies
in the way it cuts, its smaller size, and its simpler structure.
Key capabilities and differentiating characteristics may enable
ARCUS nucleases to drive more intended, defined therapeutic
outcomes. Using ARCUS, the Company’s pipeline is comprised of in
vivo gene editing candidates designed to deliver lasting cures for
the broadest range of genetic and infectious diseases where no
adequate treatments exist. For more information about Precision
BioSciences, please visit www.precisionbiosciences.com.
The ARCUS® platform is being used to develop in vivo gene
editing therapies for sophisticated gene edits, including gene
insertion (inserting DNA into gene to cause expression/add
function), elimination (removing a genome e.g. viral DNA or mutant
mitochondrial DNA), and excision (removing a large portion of a
defective gene by delivering two ARCUS nucleases in a single
AAV).
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version on businesswire.com: https://www.businesswire.com/news/home/20240517597841/en/
Investor and Media Contact: Naresh Tanna Vice President,
Investor Relations Naresh.Tanna@precisionbiosciences.com
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