Adicet Bio Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4)
31 Juli 2024 - 11:25PM
Business Wire
Adicet Bio, Inc. (Nasdaq: ACET), a clinical stage biotechnology
company discovering and developing allogeneic gamma delta T cell
therapies for autoimmune diseases and cancer, today announced it
granted inducement awards on July 31, 2024.
Four individuals were hired by Adicet in July 2024. In the
aggregate, Adicet granted new hires non-qualified stock options to
purchase 70,400 shares of Adicet’s common stock with an exercise
price of $1.51 per share, the closing price of Adicet’s common
stock as reported by Nasdaq on July 31, 2024. One-fourth of the
shares underlying each employee’s option will vest on the one-year
anniversary of each recipient’s start date and thereafter the
remaining three-fourths of the shares underlying each employee’s
option will vest in thirty-six substantially equal monthly
installments, such that the shares underlying the option granted to
each employee will be fully vested on the fourth anniversary of the
recipient’s start date, in each case, subject to each such
employee’s continued employment with Adicet on such vesting
dates.
All of the above-described awards were granted outside of
Adicet’s stockholder-approved equity incentive plans pursuant to
Adicet’s 2022 Inducement Plan (the Inducement Plan), which was
adopted by the board of directors in January 2022 and subsequently
amended in January 2023. The awards were authorized by the
compensation committee of the board of directors, which is
comprised solely of independent directors, as a material inducement
to the employees entering into employment with Adicet in accordance
with Nasdaq Listing Rule 5635(c)(4).
About Adicet Bio, Inc.
Adicet Bio, Inc. is a clinical stage biotechnology company
discovering and developing allogeneic gamma delta T cell therapies
for autoimmune diseases and cancer. Adicet is advancing a pipeline
of “off-the-shelf” gamma delta T cells, engineered with chimeric
antigen receptors (CARs), to facilitate durable activity in
patients. For more information, please visit our website at
https://www.adicetbio.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240731458201/en/
Adicet Bio, Inc. Investor and Media Contacts
Anne Bowdidge abowdidge@adicetbio.com
Janhavi Mohite Precision AQ 212-362-1200
janhavi.mohite@precisionaq.com
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