Castle Biosciences Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Castle Biosciences grants restricted stock units (RSUs) to 68 employees as an inducement for employment. The RSUs will vest over four years.

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• Castle Biosciences grants 197,498 shares of common stock as RSUs to 68 employees. The RSUs will vest over four years, with 25% of the shares vesting on the first anniversary and the balance vesting annually in three equal installments.

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FRIENDSWOOD, Texas--(BUSINESS WIRE)-- Castle Biosciences, Inc. (Nasdaq: CSTL), a company improving health through innovative tests that guide patient care, today announced that on June 16, 2023, the Compensation Committee of its Board of Directors granted restricted stock units (RSUs) to 68 employees covering an aggregate of 197,498 shares of common stock as an inducement material to their entering into employment with Castle Biosciences. The RSUs were granted pursuant to the Company’s 2022 Inducement Plan in accordance with Nasdaq Listing Rule 5635(c)(4).

The RSUs will vest over four years, with 25% of the shares vesting on the first anniversary of the applicable vesting commencement date, and the balance vesting annually thereafter in three equal installments, subject to the employee’s continued service through each applicable vesting date.

About Castle Biosciences

Castle Biosciences (Nasdaq: CSTL) is a leading diagnostics company improving health through innovative tests that guide patient care. The Company aims to transform disease management by keeping people first: patients, clinicians, employees and investors.

Castle’s current portfolio consists of tests for skin cancers, uveal melanoma, Barrett’s esophagus and mental health conditions. Additionally, the Company has active research and development programs for tests in other diseases with high clinical need, including its test in development to predict systemic therapy response in patients with moderate-to-severe psoriasis, atopic dermatitis and related conditions. To learn more, please visit www.CastleBiosciences.com and connect with us on LinkedIn, Facebook, Twitter and Instagram.

DecisionDx-Melanoma, DecisionDx-CMSeq, DecisionDx-SCC, MyPath Melanoma, DecisionDx-UM, DecisionDx-PRAME, DecisionDx-UMSeq, TissueCypher and IDgenetix are trademarks of Castle Biosciences, Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230620859132/en/

Investor Contact:

Camilla Zuckero

czuckero@castlebiosciences.com

Media Contact:

Allison Marshall

amarshall@castlebiosciences.com

Source: Castle Biosciences Inc.

FAQ

What is Castle Biosciences announcing?

Castle Biosciences is announcing that it has granted restricted stock units (RSUs) to 68 employees as an inducement for their employment.

How many shares of common stock were granted?

Castle Biosciences granted 197,498 shares of common stock as RSUs.

How long will it take for the RSUs to vest?

The RSUs will vest over four years, with 25% of the shares vesting on the first anniversary and the balance vesting annually in three equal installments.

What is the purpose of the RSUs?

The RSUs are granted as an inducement for the employees to enter into employment with Castle Biosciences.