Atara Biotherapeutics, Inc. Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Atara Biotherapeutics (Nasdaq: ATRA), a leader in T-cell immunotherapy, has announced the inducement grant of 9,700 restricted stock units (RSUs) to a newly hired employee. This grant, approved by the Compensation Committee of Atara's Board of Directors and issued under the 2018 Inducement Plan, is in line with Nasdaq Listing Rule 5635(c)(4). The RSUs are set to vest over four years; 25% will vest on the first quarterly vesting date after one year, with the remainder vesting in 12 equal quarterly installments over the next three years, contingent upon continuous employment.

Positive

• Grant of 9,700 RSUs to a new employee showcases Atara's commitment to attracting top talent.
• Compliance with Nasdaq Listing Rule 5635(c)(4) ensures transparency and adherence to regulatory standards.
• The four-year vesting schedule promotes long-term employee retention.

Negative

• Issuance of RSUs may lead to potential dilution of existing shareholders' equity.
• Burden of continuous employment as a condition for vesting could lead to employee dissatisfaction if not managed well.

THOUSAND OAKS, Calif.--(BUSINESS WIRE)-- Atara Biotherapeutics, Inc. (Nasdaq: ATRA), a leader in T-cell immunotherapy, leveraging its novel allogeneic Epstein-Barr virus (EBV) T-cell platform to develop transformative therapies for patients with cancer and autoimmune diseases, today reported the grant of 9,700 restricted stock units of Atara’s common stock to one newly hired employee. This award was approved by the Compensation Committee of Atara’s Board of Directors and granted under the Atara Biotherapeutics, Inc. 2018 Inducement Plan, with a grant date of June 1, 2024, as an inducement material to the new employee entering into employment with Atara, in accordance with Nasdaq Listing Rule 5635(c)(4).

The restricted stock units vest over four years, with 25 percent vesting on the first quarterly vesting date after the first anniversary of the vesting commencement date and the remainder vesting in 12 approximately equal quarterly installments over the following three years, subject to the employee being continuously employed by Atara as of such vesting dates.

Atara is providing this information in accordance with Nasdaq Listing Rule 5635(c)(4).

About Atara Biotherapeutics, Inc.

Atara is harnessing the natural power of the immune system to develop off-the-shelf cell therapies for difficult-to-treat cancers and autoimmune conditions that can be rapidly delivered to patients from inventory. With cutting-edge science and differentiated approach, Atara is the first company in the world to receive regulatory approval of an allogeneic T-cell immunotherapy. Our advanced and versatile T-cell platform does not require T-cell receptor or HLA gene editing and forms the basis of a diverse portfolio of investigational therapies that target EBV, the root cause of certain diseases, in addition to next-generation AlloCAR-Ts designed for best-in-class opportunities across a broad range of hematological malignancies and B-cell driven autoimmune diseases. Atara is headquartered in Southern California. For more information, visit atarabio.com and follow @Atarabio on X and LinkedIn.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240607147278/en/

Investor and Media Relations

Jason Awe, Ph.D.

Senior Director, Corporate Communications & Investor Relations

(805) 217-2287

jawe@atarabio.com

Source: Atara Biotherapeutics, Inc.

FAQ

What did Atara Biotherapeutics announce regarding stock grants on June 1, 2024?

Atara Biotherapeutics announced the grant of 9,700 RSUs to a newly hired employee, approved by the Compensation Committee and issued under the 2018 Inducement Plan.

What is the vesting schedule for the new RSUs granted by Atara Biotherapeutics (ATRA)?

The RSUs vest over four years, with 25% vesting on the first quarterly vesting date after one year, and the remainder vesting in 12 equal quarterly installments over the following three years.

Why did Atara Biotherapeutics issue new RSUs under Nasdaq Rule 5635(c)(4)?

The RSUs were issued as an inducement grant material to the new employee's employment, in compliance with Nasdaq Listing Rule 5635(c)(4).

How does the new RSU grant affect Atara Biotherapeutics' shareholders?

The issuance of RSUs may lead to potential dilution of existing shareholders' equity.