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Guardant Health Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
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Guardant Health, Inc. announced the granting of restricted stock units and stock options to new non-executive employees under the 2023 Employment Inducement Incentive Award Plan. The awards were made to 82 employees and one new Chief People Officer, Terilyn Juarez Monroe. The RSUs and stock options were granted as inducements for joining Guardant, with specific vesting conditions. The stock options have an exercise price of $20.14 per share, reflecting the closing price on February 26, 2024.
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PALO ALTO, Calif.--(BUSINESS WIRE)--
Guardant Health, Inc. (Nasdaq: GH), a leading precision oncology company, today announced that on February 15, 2024, the Compensation Committee of Guardant’s Board of Directors approved the granting of restricted stock units (“RSUs”) representing 218,236 shares of its common stock to 82 new non-executive employees and non-qualified stock option awards to purchase an aggregate of 29,048 shares of its common stock to one new non-executive employee with a grant date of February 26, 2024 under the Guardant Health, Inc. 2023 Employment Inducement Incentive Award Plan (the “Inducement Plan”). Additionally, the Compensation Committee approved an RSU award representing 52,136 shares of common stock and a non-qualified stock option award to purchase an aggregate of 78,204 shares of common stock to Terilyn Juarez Monroe under the Inducement Plan who joined Guardant as its Chief People Officer, in connection with her commencement of employment. The RSUs and stock options were granted as inducements material to the employees entering into employment with Guardant 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 Guardant, or following a bona fide period of non-employment, as an inducement material to such individuals’ entering into employment with Guardant, pursuant to Nasdaq Listing Rule 5635(c)(4).
One-third of the shares underlying each RSU award vest on an annual basis on the anniversary of the vesting commencement date, subject to each employee’s continued employment with Guardant as of each such vesting date. The RSUs are subject to the terms and conditions of the Inducement Plan and the terms and conditions of a RSU award agreement covering the grant.
All stock options have an exercise price of $20.14 per share, which is equal to the closing price of Guardant’s common stock on The Nasdaq Global Select Market on February 26, 2024. One-third of the shares underlying each stock option award vest on the one-year anniversary of the vesting commencement date and continue to vest monthly thereafter over 24 months, subject to each employee’s continued employment with Guardant as of each such vesting date. The stock options are subject to the terms and conditions of the Inducement Plan and the terms and conditions of a stock option award agreement covering the grant.
About Guardant Health
Guardant Health is a leading precision oncology company focused on helping conquer cancer globally through use of its proprietary tests, vast data sets and advanced analytics. The Guardant Health oncology platform leverages capabilities to drive commercial adoption, improve patient clinical outcomes and lower healthcare costs across all stages of the cancer care continuum. Guardant Health has commercially launched Guardant360®, Guardant360 CDx, Guardant360 TissueNext™, Guardant360 Response™, and GuardantOMNI® tests for advanced stage cancer patients, and Guardant Reveal™ for early-stage cancer patients. The Guardant Health screening portfolio, including the Shield™ test, aims to address the needs of individuals eligible for cancer screening. For more information, visit guardanthealth.com and follow the company on LinkedIn and Twitter.
How many shares of common stock were granted as RSUs to new non-executive employees?
Guardant Health granted 218,236 shares of common stock as RSUs to 82 new non-executive employees.
Who received RSU and stock option awards under the Inducement Plan?
Terilyn Juarez Monroe received an RSU award of 52,136 shares and a stock option award to purchase 78,204 shares of common stock as the Chief People Officer.
What is the exercise price of the stock options granted?
The stock options have an exercise price of $20.14 per share, equivalent to the closing price of Guardant's common stock on February 26, 2024.
How do the RSUs and stock options vest?
One-third of the shares underlying each RSU and stock option award vest on the one-year anniversary of the vesting commencement date, with continued monthly vesting over 24 months, subject to continued employment.
