Cidara Therapeutics Reports Inducement Grant Under Nasdaq Listing Rule 5635(C)(4)
Cidara Therapeutics (CDTX), a biotechnology company, announced the granting of a non-qualified stock option award and restricted stock units (RSUs) to Dipesh Bhatt, a new employee, under its 2020 Inducement Incentive Plan. The award includes 1,110 shares of common stock with an exercise price of $10.75 per share, matching the stock's closing price on September 30, 2024. The stock options will vest over four years, with 25% vesting after one year and the remainder vesting monthly over the next three years. RSUs vest annually over four years. The award is given under Nasdaq Listing Rule 5635(c)(4) as an inducement for Bhatt's employment. Additionally, Cidara corrected an earlier press release, clarifying that 81,000 shares, not 71,000, were granted to Jim Beitel in a previous inducement award.
Cidara Therapeutics (CDTX), una società biotecnologica, ha annunciato l'assegnazione di un'opzione su azioni non qualificate e di unità di azioni vincolate (RSU) a Dipesh Bhatt, un nuovo dipendente, nell'ambito del suo Piano di Incentivazione per il 2020. L'assegnazione comprende 1.110 azioni ordinarie con un prezzo di esercizio di $10,75 per azione, corrispondente al prezzo di chiusura delle azioni del 30 settembre 2024. Le opzioni su azioni si matureranno nel corso di quattro anni, con il 25% che matura dopo un anno e il resto che matura mensilmente nei successivi tre anni. Le RSU maturano annualmente nel corso di quattro anni. L'assegnazione è effettuata ai sensi della Regola di Quotazione Nasdaq 5635(c)(4) come incentivo per l'impiego di Bhatt. Inoltre, Cidara ha corretto un comunicato stampa precedente, chiarendo che 81.000 azioni, non 71.000, sono state assegnate a Jim Beitel in un precedente premio di incentivazione.
Cidara Therapeutics (CDTX), una empresa biotecnológica, anunció la concesión de una opción de acciones no calificadas y unidades de acciones restringidas (RSU) a Dipesh Bhatt, un nuevo empleado, bajo su Plan de Incentivo por Inducción 2020. La concesión incluye 1.110 acciones ordinarias con un precio de ejercicio de $10.75 por acción, coincidiendo con el precio de cierre de las acciones el 30 de septiembre de 2024. Las opciones sobre acciones se consolidarán durante cuatro años, con un 25% que se consolidará después de un año y el resto consolidándose mensualmente durante los tres años siguientes. Las RSU se consolidan anualmente durante cuatro años. La concesión se otorga bajo la Regla de Cotización de Nasdaq 5635(c)(4) como un incentivo para el empleo de Bhatt. Además, Cidara corrigió un comunicado de prensa anterior, aclarando que se otorgaron 81.000 acciones, no 71.000, a Jim Beitel en un premio de inducción anterior.
시다라 제약(Cidara Therapeutics, CDTX)은 생명공학 회사로, 2020년 유인 인센티브 계획에 따라 새로운 직원인 디펜시 바트를 위해 자격이 없는 주식 옵션과 제한 주식 단위(RSU)를 부여했다고 발표했습니다. 이번 부여는 1,110주의 보통주와 주당 $10.75의 행사 가격을 포함하며, 이는 2024년 9월 30일 주식의 종가와 일치합니다. 주식 옵션은 4년에 걸쳐 성과가 발생하며, 첫 해에 25%가 발생하고 나머지는 다음 3년 동안 매월 발생합니다. RSU는 4년에 걸쳐 매년 발생합니다. 이번 부여는 바트의 고용을 위한 유인으로서 Nasdaq 상장 규칙 5635(c)(4)에 따라 이루어졌습니다. 또한, 시다라는 이전 보도자료를 수정하며 짐 베이텔에게는 71,000주가 아닌 81,000주가 이전 유인 부여에 따라 부여되었다고 명확히 했습니다.
Cidara Therapeutics (CDTX), une entreprise biotechnologique, a annoncé l'octroi d'une option d'achat d'actions non qualifiée et d'unités d'actions restreintes (RSU) à Dipesh Bhatt, un nouvel employé, dans le cadre de son Plan d'Incentive de 2020. L'octroi comprend 1.110 actions ordinaires avec un prix d'exercice de 10,75 $ par action, correspondant au prix de clôture de l'action au 30 septembre 2024. Les options sur actions seront acquises sur une période de quatre ans, avec 25 % acquises après un an et le reste acquis mensuellement au cours des trois années suivantes. Les RSU sont acquises annuellement sur quatre ans. L'octroi est effectué conformément à la Règle de Cotation Nasdaq 5635(c)(4) comme incitation à l'emploi de Bhatt. De plus, Cidara a corrigé un communiqué de presse antérieur, précisant que 81.000 actions, et non 71.000, avaient été octroyées à Jim Beitel dans le cadre d'une précédente attribution d'incitation.
Cidara Therapeutics (CDTX), ein Biotechnologieunternehmen, gab die Vergabe einer nicht qualifizierten Aktienoptionsauszeichnung und von Restricted Stock Units (RSUs) an Dipesh Bhatt, einen neuen Mitarbeiter, im Rahmen seines Incentive-Plans 2020 bekannt. Die Auszeichnung umfasst 1.110 Stammaktien mit einem Ausübungspreis von 10,75 USD pro Aktie, der dem Schlusskurs der Aktie am 30. September 2024 entspricht. Die Aktienoptionen werden über einen Zeitraum von vier Jahren erworben, wobei 25 % nach einem Jahr und die restlichen monatlich über die nächsten drei Jahre erworben werden. Die RSUs werden jährlich über vier Jahre erworben. Die Vergabe erfolgt gemäß der Nasdaq-Listing-Regel 5635(c)(4) als Anreiz für Bhatt's Beschäftigung. Darüber hinaus korrigierte Cidara eine frühere Pressemitteilung, in der klargestellt wurde, dass 81.000 Aktien, nicht 71.000, an Jim Beitel in einer früheren Anreizvergabe vergeben wurden.
- New stock option and RSU grants to key employees could incentivize performance.
- Correction of previous stock grant error shows commitment to transparency.
- No direct impact on revenue or profitability disclosed in the announcement.
SAN DIEGO, Oct. 04, 2024 (GLOBE NEWSWIRE) -- Cidara Therapeutics, Inc. (Nasdaq: CDTX), a biotechnology company using its proprietary Cloudbreak® platform to develop drug-Fc conjugate (DFC) immunotherapies designed to save lives and improve the standard of care for patients facing serious diseases, today announced that the Compensation Committee of its Board of Directors (Compensation Committee) granted Dipesh Bhatt, a new employee, a non-qualified stock option award and restricted stock units (RSUs) for an aggregate of 1,110 shares of its common stock, pursuant to the Cidara Therapeutics, Inc. 2020 Inducement Incentive Plan, as amended (the Inducement Plan), with a grant date of September 30, 2024. The stock option has an exercise price of
The foregoing equity award was granted as an inducement material to the employee entering into employment with Cidara, in accordance with Nasdaq Listing Rule 5635(c)(4). The Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of Cidara, or following a bona fide period of non-employment, as an inducement material to such individual’s entering into employment with Cidara, pursuant to Nasdaq Listing Rule 5635(c)(4).
Correction of Press Release issued August 19, 2024
In Cidara’s press release issued on August 19, 2024, due to an administrative error, Cidara incorrectly announced that the Compensation Committee granted to Jim Beitel, MBA a non-qualified stock option award and RSUs for an aggregate of 71,000 shares of its common stock pursuant to the Inducement Plan. However, the total number of shares of Cidara’s common stock underlying such non-qualified stock option award and RSUs is 81,000 shares.
About Cidara Therapeutics
Cidara Therapeutics is using its proprietary Cloudbreak® platform to develop novel drug-Fc conjugates (DFCs) comprising targeted small molecules or peptides coupled to a proprietary human antibody fragment (Fc). Cidara’s lead DFC candidate, CD388, is a long-acting antiviral designed to achieve universal prevention of seasonal and pandemic influenza with a single dose by directly inhibiting viral proliferation. In June 2023, CD388 was granted Fast Track Designation by the U.S. Food and Drug Administration (FDA), and the Company announced initiation of a Phase 2b trial in September 2024. Additional DFCs have been developed for oncology and in July 2024 Cidara received IND clearance for CBO421 which is intended to target CD73 in solid tumors. Cidara is headquartered in San Diego, California. For more information, please visit www.cidara.com.
INVESTOR CONTACT:
Brian Ritchie
LifeSci Advisors
(212) 915-2578
britchie@lifesciadvisors.com
MEDIA CONTACT:
Michael Fitzhugh
LifeSci Communications
mfitzhugh@lifescicomms.com
FAQ
What stock options and RSUs were granted to Dipesh Bhatt by Cidara Therapeutics?
What is the exercise price of the stock options granted to Dipesh Bhatt by Cidara Therapeutics?
When will the stock options granted by Cidara Therapeutics vest?
How will the RSUs granted by Cidara Therapeutics vest?
What correction did Cidara Therapeutics make regarding the August 19, 2024 press release?
