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Atara Biotherapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
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Rhea-AI Sentiment
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Rhea-AI Summary
Atara Biotherapeutics (NASDAQ: ATRA) announced the grant of 126,928 restricted stock units and stock options for newly hired employees, totaling 186,378 shares. These awards were approved by the Compensation Committee and are part of Atara's 2018 Inducement Plan, effective June 1, 2022. The restricted stock units will vest over four years, while the stock options have a ten-year term with an exercise price of $4.83 per share. This action complies with Nasdaq Listing Rule 5635(c)(4) and aims to incentivize new talent while supporting the company’s growth in T-cell immunotherapy.
Positive
Incentivizes new employees with stock options and restricted stock units, potentially enhancing talent retention.
Stock options have a favorable exercise price of $4.83, aligning employee interests with shareholder value.
Negative
None.
SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--
Atara Biotherapeutics, Inc. (Nasdaq: ATRA), a leader in T-cell immunotherapy, leveraging its novel allogeneic EBV T-cell platform to develop transformative therapies for patients with cancer and autoimmune diseases, today reported the grant of an aggregate of 126,928 restricted stock units of Atara’s common stock to four newly hired employees and stock options to purchase an aggregate of 186,378 shares of Atara’s common stock to three such newly hired employees. 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 June 1, 2022, as an inducement material to the new employees 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 $4.83 per share, equal to the per share closing price of Atara’s common stock as reported by Nasdaq on June 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 in Phase 3 clinical development and currently under review to support registration 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 South San Francisco and our leading-edge research, development and manufacturing facility is based in Thousand Oaks, California. For additional information about the company, please visit atarabio.com and follow us on Twitter and LinkedIn.
