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Atara Biotherapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
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Rhea-AI Summary
Atara Biotherapeutics (NASDAQ: ATRA) has granted inducement awards to its new Executive Vice President and Chief Technical Officer, Charlene Banard. The awards include 155,350 restricted stock units, time-based stock options for 292,023 shares, and performance-based options for 33,184 shares, all effective as of April 25, 2022. The vesting of these options is contingent on Banard’s continued employment and achieving certain performance goals. The exercise price for the stock options is set at $7.29 per share, equal to the stock's closing price on the grant date.
Positive
Inducement awards to a new executive may enhance leadership and strategic direction.
Stock options have a ten-year term, potentially aligning executive interests with shareholders.
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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 inducement awards to Charlene Banard, its new Executive Vice President, Chief Technical Officer.
The Compensation Committee of Atara’s Board of Directors granted Ms. Banard 155,350 restricted stock units of Atara’s common stock, time-based stock options to purchase 292,023 shares of Atara’s common stock and performance-based stock options to purchase 33,184 shares of Atara’s common stock under the Atara Biotherapeutics, Inc. 2018 Inducement Plan, with a grant date of April 25, 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 Ms. Banard being continuously employed by Atara as of such vesting dates. The time-based stock options vest over four years, with 25 percent vesting on the first anniversary of the vesting commencement date and the remainder vesting in 36 equal monthly installments over the following three years, subject to Ms. Banard being continuously employed by Atara as of such vesting dates. The performance-based stock options vest upon the achievement of certain performance goals set by Atara’s Board of Directors or the Compensation Committee of Atara’s Board of Directors, subject to Ms. Banard being continuously employed by Atara as of the applicable vesting date. The stock options have a ten-year term and an exercise price of $7.29 per share, equal to the per share closing price of Atara’s common stock as reported by Nasdaq on April 25, 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.
What inducement awards has Atara Biotherapeutics granted to Charlene Banard?
Charlene Banard received 155,350 restricted stock units, stock options to purchase 292,023 shares, and performance-based stock options for 33,184 shares.
When were the inducement awards granted to the new executive at Atara Biotherapeutics?
The inducement awards were granted on April 25, 2022.
What is the exercise price for the stock options awarded to Charlene Banard?
The exercise price for the stock options is $7.29 per share.
