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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) has announced the grant of 33,150 restricted stock units and 13,375 stock options to newly hired employees, aimed at incentivizing talent. The restricted stock units will vest over four years, while the stock options have a ten-year term with an exercise price set at $4.40. This action aligns with Nasdaq Listing Rule 5635(c)(4) to attract employees critical for the company's focus on T-cell immunotherapy. Atara continues to push forward its EBV T-cell platform for treating serious diseases.
Positive
Strategic employee incentives with 33,150 restricted stock units and 13,375 stock options.
Stock options have a ten-year term, providing long-term incentives for employee retention.
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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 33,150 restricted stock units of Atara’s common stock to five newly hired employees and stock options to purchase an aggregate of 13,375 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 December 1, 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 $4.40, equal to the per share closing price of Atara’s common stock as reported on December 1, 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 a CHMP positive opinion for a 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® (tabelecleucel) in Phase 3 development for Epstein-Barr virus-driven post-transplant lymphoproliferative disease (EBV+ PTLD); 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.
