ADC Therapeutics Makes Grants to New Employees Under Inducement Plan
ADC Therapeutics SA (NYSE: ADCT), a commercial-stage global leader in antibody drug conjugates (ADCs), has announced the granting of options to purchase 113,700 common shares to six new employees on October 1, 2024. These grants were approved by the Compensation Committee of the Company's Board of Directors under the Company's Inducement Plan as a material inducement to employment.
The options will vest and become exercisable in stages: 25% on the first anniversary of the grant date, and 1/48th monthly thereafter, becoming fully vested after four years, subject to continued employment. This action aligns with NYSE's Listed Company Manual Rule 303A.08, emphasizing ADC Therapeutics' commitment to attracting and retaining top talent in the competitive field of ADCs.
ADC Therapeutics SA (NYSE: ADCT), un leader globale nella fase commerciale degli antibody drug conjugates (ADCs), ha annunciato la concessione di opzioni per l'acquisto di 113.700 azioni ordinarie a sei nuovi dipendenti il 1° ottobre 2024. Queste concessioni sono state approvate dal Comitato per la Remunerazione del Consiglio di Amministrazione della Società nell'ambito del Piano di Induzione come incentivo materiale all'assunzione.
Le opzioni matureranno e diventeranno esercitabili in fasi: 25% al primo anniversario della data di concessione e 1/48 mensile successivamente, diventando completamente maturate dopo quattro anni, soggetto a un impiego continuato. Questa azione è in linea con la Regola 303A.08 del Manuale delle Società quotate della NYSE, sottolineando l'impegno di ADC Therapeutics nell'attrarre e mantenere talenti di alto livello nel competitivo campo degli ADC.
ADC Therapeutics SA (NYSE: ADCT), un líder global en la etapa comercial de los conjugados de fármacos con anticuerpos (ADCs), ha anunciado la concesión de opciones para adquirir 113,700 acciones comunes a seis nuevos empleados el 1 de octubre de 2024. Estas concesiones fueron aprobadas por el Comité de Compensación de la Junta Directiva de la Compañía bajo el Plan de Inducción como un incentivo material para el empleo.
Las opciones se acumularán y podrán ejercerse en etapas: 25% en el primer aniversario de la fecha de concesión, y 1/48 mensual a partir de entonces, volviéndose completamente adquiridas después de cuatro años, sujeto a la continuidad del empleo. Esta acción se alinea con la Regla 303A.08 del Manual de Empresas Listadas de la NYSE, enfatizando el compromiso de ADC Therapeutics para atraer y retener talento de alto nivel en el competitivo campo de los ADCs.
ADC Therapeutics SA (NYSE: ADCT)는 상용 단계의 항체 약물 접합체 (ADCs) 분야의 글로벌 리더로서, 2024년 10월 1일에 여섯 명의 신입 직원에게 113,700주 보통주 구매 옵션을 부여한다고 발표했습니다. 이 부여는 회사의 유인 계획에 따라 이사회 보상위원회의 승인을 받았습니다.
옵션은 단계적으로 행사할 수 있게 되며, 부여일의 첫 번째 기념일에 25%가 부여되고, 그 이후 매달 1/48씩 분할 vesting이 이루어져 4년 후에는 완전히 vesting됩니다. 이는 NYSE의 상장회사 매뉴얼 규정 303A.08에 부합하며, ADC Therapeutics가 ADC 분야의 경쟁력 있는 인재를 유치하고 유지하는 데 대한 의지를 강조합니다.
ADC Therapeutics SA (NYSE: ADCT), un leader mondial de la phase commerciale des conjugués anticorps-médicaments (ADCs), a annoncé l'octroi d'options d'achat de 113 700 actions ordinaires à six nouveaux employés le 1er octobre 2024. Ces octrois ont été approuvés par le Comité de rémunération du Conseil d'administration de la Société dans le cadre du Plan d'incitation comme une incitation matérielle à l'embauche.
Les options acquériront et deviendront exerçables par étapes : 25 % lors du premier anniversaire de la date d'octroi, puis 1/48 par mois, devenant entièrement acquises après quatre ans, sous réserve d'un emploi continu. Cette action s'inscrit dans le respect de la Règle 303A.08 du Manuel des sociétés cotées de la NYSE, soulignant l'engagement d'ADC Therapeutics à attirer et à retenir des talents de premier plan dans le domaine concurrentiel des ADC.
ADC Therapeutics SA (NYSE: ADCT), ein globaler Marktführer in der kommerziellen Phase von Antikörper-Wirkstoff-Konjugaten (ADCs), hat am 1. Oktober 2024 die Gewährung von Optionen zum Kauf von 113.700 Stammaktien an sechs neue Mitarbeiter bekannt gegeben. Diese Gewährungen wurden vom Vergütungsausschuss des Vorstands der Gesellschaft im Rahmen des Induktionsplans als wesentliche Anreiz für die Einstellung genehmigt.
Die Optionen werden in Stufen erwerben und ausübbar: 25 % am ersten Jahrestag des Gewährungsdatums und 1/48 monatlich danach, wobei sie nach vier Jahren vollständig erworben werden, vorausgesetzt, dass das Beschäftigungsverhältnis fortgesetzt wird. Diese Maßnahme steht im Einklang mit der Regel 303A.08 des Handbuchs für gelistete Unternehmen der NYSE, was das Engagement von ADC Therapeutics unterstreicht, Top-Talente im wettbewerbsintensiven Bereich der ADCs zu gewinnen und zu halten.
- Granted stock options to attract and retain new talent
- Aligns employee interests with company performance through equity compensation
- Potential dilution of existing shareholders' equity
LAUSANNE, Switzerland, Oct. 01, 2024 (GLOBE NEWSWIRE) -- ADC Therapeutics SA (NYSE: ADCT), a commercial-stage global leader and pioneer in the field of antibody drug conjugates (ADCs), today announced that the Company has made grants of options to purchase an aggregate of 113,700 of the Company’s common shares to six new employees on October 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
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 and New Jersey. For more information, please visit https://adctherapeutics.com/ and follow the Company on LinkedIn.
ZYNLONTA® is a registered trademark of ADC Therapeutics SA.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. In some cases you can identify forward-looking statements by terminology such as “may”, “will”, “should”, “would”, “expect”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “predict”, “potential”, “seem”, “seek”, “future”, “continue”, or “appear” or the negative of these terms or similar expressions, although not all forward-looking statements contain these identifying words. Forward-looking statements are subject to certain risks and uncertainties that can cause actual results to differ materially from those described. Factors that may cause such differences include, but are not limited to: the expected cash runway into mid-2026 the Company’s ability to grow ZYNLONTA® revenue in the United States; the ability of our partners to commercialize ZYNLONTA® in foreign markets, the timing and amount of future revenue and payments to us from such partnerships and their ability to obtain regulatory approval for ZYNLONTA® in foreign jurisdictions; the timing and results of the Company’s or its partners’ research and development projects or clinical trials including LOTIS 5 and 7, ADCT 601 and 602 as well as early research in certain solid tumors with different targets, linkers and payloads; the timing and results of investigator-initiated trials including those studying FL and MZL and the potential regulatory and/or compendia strategy and the future opportunity; the timing and outcome of regulatory submissions for the Company’s products or product candidates; actions by the FDA or foreign regulatory authorities; projected revenue and expenses; the Company’s indebtedness, including Healthcare Royalty Management and Blue Owl and Oaktree facilities, and the restrictions imposed on the Company’s activities by such indebtedness, the ability to comply with the terms of the various agreements and repay such indebtedness and the significant cash required to service such indebtedness; and the Company’s ability to obtain financial and other resources for its research, development, clinical, and commercial activities. Additional information concerning these and other factors that may cause actual results to differ materially from those anticipated in the forward-looking statements is contained in the “Risk Factors” section of the Company's Annual Report on Form 10-K and in the Company's other periodic and current reports and filings with the U.S. Securities and Exchange Commission. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance, achievements or prospects to be materially different from any future results, performance, achievements or prospects expressed in or implied by such forward-looking statements. The Company cautions investors not to place undue reliance on the forward-looking statements contained in this document.
CONTACTS:
Investors
Marcy Graham
ADC Therapeutics
Marcy.Graham@adctherapeutics.com
+1 650-667-6450
Media
Nicole Riley
ADC Therapeutics
Nicole.Riley@adctherapeutics.com
+1 862-926-9040
FAQ
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