An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Atara Biotherapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(C)(4)
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
Atara Biotherapeutics, Inc. announced the grant of 104,386 restricted stock units and stock options to newly hired employees, approved by its Compensation Committee under the 2018 Inducement Plan. The restricted stock units vest over four years, while the stock options provide a ten-year term with an exercise price of $17.50 per share, set to the closing price on the grant date of October 1, 2021. This move is compliant with Nasdaq Listing Rule 5635(c)(4), highlighting Atara's commitment to building a skilled workforce.
Positive
Atara's strategic hiring and stock compensation plan may enhance employee retention and motivation.
The stock options provide a long-term incentive for newly hired employees to contribute positively to Atara's growth.
Negative
None.
SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--
Atara Biotherapeutics, Inc. (Nasdaq: ATRA), a pioneer 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 104,386 restricted stock units of Atara’s common stock to 16 newly hired employees and stock options to purchase an aggregate of 107,813 shares of Atara’s common stock to five 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 October 1, 2021, 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 $17.50 per share, equal to the per share closing price of Atara’s common stock as reported by Nasdaq on October 1, 2021.
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, 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 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.
What new employee compensation was announced by Atara Biotherapeutics on October 1, 2021?
Atara Biotherapeutics announced the grant of 104,386 restricted stock units and stock options to newly hired employees.
What is the exercise price of the stock options granted by Atara on October 1, 2021?
The exercise price for the stock options is set at $17.50 per share.
What is the vesting schedule for the restricted stock units granted by Atara?
The restricted stock units vest over four years, with 25% vesting after the first year and the remainder vesting in approximately equal quarterly installments.
How does Atara Biotherapeutics comply with Nasdaq regulations regarding employee compensation?
Atara's employee compensation grants were made in accordance with Nasdaq Listing Rule 5635(c)(4).
