Atara Biotherapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Atara Biotherapeutics (Nasdaq:ATRA) announced the grant of 110,626 restricted stock units and stock options for 69,744 shares to newly hired employees. These awards were approved by the Compensation Committee under the 2018 Inducement Plan, effective August 2, 2021. The restricted stock units will vest over four years, with the first 25% vesting after one year. The stock options also vest over four years, starting with 25% after the first anniversary. This action complies with Nasdaq Listing Rule 5635(c)(4).

Positive

• Grant of 110,626 restricted stock units and 69,744 stock options to new employees indicates growth and recruitment.
• Structured vesting schedule for stock options and restricted stock units promotes employee retention.

Negative

• None.

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 110,626 restricted stock units of Atara’s common stock to 28 newly hired employees and stock options to purchase an aggregate of 69,744 shares of Atara’s common stock to 8 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 August 2, 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 grant 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 $12.92 per share, equal to the per share closing price of Atara’s common stock as reported by Nasdaq on August 2, 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.

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FAQ

What stock awards did Atara Biotherapeutics grant to new employees?

Atara Biotherapeutics granted 110,626 restricted stock units and stock options for 69,744 shares to new employees.

When were the stock options and restricted stock units granted?

The stock awards were granted on August 2, 2021.

What is the exercise price of the stock options granted by Atara?

The exercise price of the stock options is $12.92 per share.

How do the vesting schedules work for the stock options and restricted stock units?

The restricted stock units vest over four years, with 25% vesting after the first year, while stock options vest 25% after the first anniversary and monthly thereafter for three years.