GRAIL ANNOUNCES INDUCEMENT GRANTS UNDER NASDAQ LISTING RULE 5635(c)(4)

Rhea-AI Summary

GRAIL, Inc. (Nasdaq: GRAL), a healthcare company focused on early cancer detection, has announced the granting of equity awards to 55 recently hired non-executive employees. These awards, in the form of restricted stock units (RSUs) totaling 182,223 shares of GRAIL's common stock, were granted under the company's Inducement Equity Incentive Plan in accordance with Nasdaq Listing Rule 5635(c)(4).

The RSUs are designed to vest over approximately four years, with 25% vesting in either May or August 2025, depending on the employee's start date, and the remaining vesting annually thereafter. This vesting schedule is subject to continued employment with GRAIL or its subsidiaries.

Positive

• Granting of equity awards to attract new talent
• Alignment of employee interests with company growth through RSUs

Negative

• Potential dilution of existing shareholders' equity

News Market Reaction

-6.02%

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-6.02% News Effect

On the day this news was published, GRAL declined 6.02%, reflecting a notable negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

MENLO PARK, Calif., Aug. 30, 2024 /PRNewswire/ -- GRAIL, Inc. (Nasdaq: GRAL), a healthcare company whose mission is to detect cancer early when it can be cured, today announced that it has granted equity awards in the form of restricted stock units ("RSUs") underlying an aggregate of 182,223 shares of GRAIL's common stock to 55 recently hired non-executive employees as an inducement material to their acceptance of employment with GRAIL. The employment inducement awards were granted under GRAIL's Inducement Equity Incentive Plan and related form of restricted stock award agreement 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 GRAIL, or following a bona fide period of non-employment, as an inducement material to such individuals entering into employment with GRAIL, pursuant to Nasdaq Listing Rule 5635(c)(4).

The RSUs vest over an approximately four year period, with 25% of the award vesting in either May or August, 2025, depending on the start date of the employee, and on each one year anniversary of those respective dates thereafter, subject to continued employment with GRAIL (or any successor to or subsidiary of the Company) through the vesting dates.

About GRAIL
GRAIL is a healthcare company whose mission is to detect cancer early, when it can be cured. GRAIL is focused on alleviating the global burden of cancer by using the power of next-generation sequencing, population-scale clinical studies, and state-of-the-art machine learning, software, and automation to detect and identify multiple deadly cancer types in earlier stages. GRAIL's targeted methylation-based platform can support the continuum of care for screening and precision oncology, including multi-cancer early detection in symptomatic patients, risk stratification, minimal residual disease detection, biomarker subtyping, treatment and recurrence monitoring. GRAIL is headquartered in Menlo Park, CA with locations in Washington, D.C., North Carolina, and the United Kingdom.

For more information, visit grail.com.

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SOURCE GRAIL, Inc.

FAQ

How many shares of GRAL stock were granted as RSUs to new employees?

GRAIL (GRAL) granted RSUs underlying an aggregate of 182,223 shares of common stock to 55 recently hired non-executive employees.

What is the vesting schedule for the RSUs granted by GRAIL (GRAL)?

The RSUs vest over approximately four years, with 25% vesting in May or August 2025, depending on the employee's start date, and the remaining vesting annually thereafter.

Under which plan were the GRAIL (GRAL) equity awards granted?

The equity awards were granted under GRAIL's Inducement Equity Incentive Plan in accordance with Nasdaq Listing Rule 5635(c)(4).

What is the purpose of GRAIL's (GRAL) equity awards to new employees?

The equity awards serve as an inducement material to attract new non-executive employees to accept employment with GRAIL.