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Atara Biotherapeutics Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
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Rhea-AI Summary
Atara Biotherapeutics (Nasdaq: ATRA) announced the grant of 66,800 restricted stock units to six new employees and stock options for 40,000 shares to one employee, approved by its Compensation Committee. The awards were granted under the 2018 Inducement Plan with a grant date of January 3, 2022. The restricted stock units will vest over four years, while the stock options will have a ten-year term with an exercise price of $3.28, equivalent to the January 3, 2022, closing price. Atara focuses on developing T-cell immunotherapies for cancer and autoimmune diseases, having received marketing authorization for its lead program in Europe.
Positive
Grant of 66,800 restricted stock units indicates growth and investment in human capital.
Stock options granted at $3.28, aligning employee and shareholder interests.
Negative
None.
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 66,800 restricted stock units of Atara’s common stock to six newly hired employees and stock options to purchase an aggregate of 40,000 shares of Atara’s common stock to one such newly hired employee. These awards were 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 January 3, 2022, 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. The stock options vest over four years, with 25 percent vesting on the first anniversary of the vesting commencement date for such employee and the remainder vesting in 36 equal monthly installments over the following three years, subject to the employee being continuously employed by Atara as of such vesting dates. The stock options have a ten-year term and an exercise price of $3.28, equal to the per share closing price of Atara’s common stock as reported on January 3, 2022.
Atara is providing this information in accordance with Nasdaq Listing Rule 5635(c)(4).
About Atara Biotherapeutics, Inc.
Atara Biotherapeutics, Inc. (@Atarabio) is a pioneer in T-cell immunotherapy leveraging its novel allogeneic EBV T-cell platform to develop transformative therapies for patients with serious diseases including solid tumors, hematologic cancers and autoimmune disease. With our lead program receiving marketing authorization in Europe, Atara is the most advanced allogeneic T-cell immunotherapy company and intends to rapidly deliver off-the-shelf treatments to patients with high unmet medical need. Our platform leverages the unique biology of EBV T cells and has the capability to treat a wide range of EBV-associated diseases, or other serious diseases through incorporation of engineered CARs (chimeric antigen receptors) or TCRs (T-cell receptors). Atara is applying this one platform, which does not require TCR or HLA gene editing, to create a robust pipeline including: tab-cel for Epstein-Barr virus positive post-transplant lymphoproliferative disease (EBV+ PTLD) and other EBV-driven diseases; ATA188, a T-cell immunotherapy targeting EBV antigens as a potential treatment for multiple sclerosis; and multiple next-generation chimeric antigen receptor T-cell (CAR-T) immunotherapies for both solid tumors and hematologic malignancies. Improving patients’ lives is our mission and we will never stop working to bring transformative therapies to those in need. Atara is headquartered in Southern California. For additional information about the company, please visit atarabio.com and follow us on Twitter and LinkedIn.
What did Atara Biotherapeutics report regarding new hires?
Atara Biotherapeutics announced the grant of 66,800 restricted stock units and stock options for 40,000 shares to newly hired employees on January 3, 2022.
What is the vesting schedule for the restricted stock units granted by Atara?
The restricted stock units vest over four years, with 25% vesting on the first anniversary and the remainder in approximately equal quarterly installments.
What is the exercise price of the stock options granted to Atara employees?
The stock options have an exercise price of $3.28, which is the closing price of Atara's common stock on January 3, 2022.
What is Atara Biotherapeutics' focus in terms of therapy development?
Atara focuses on T-cell immunotherapies for cancer and autoimmune diseases, utilizing its allogeneic Epstein-Barr virus (EBV) T-cell platform.
