ImmunoPrecise Antibodies Announces Grant of Stock Options

Rhea-AI Summary

ImmunoPrecise Antibodies Ltd. (IPA) announces the approval of 28,250 stock options for its non-executive directors, following the recent Annual General Meeting. Each director received 5,650 options, with Ms. Anna Pettersson receiving an additional 11,300 options. The options are exercisable for five years at an exercise price of Cdn $6.89 per share, with quarterly vesting. This action reflects the company’s commitment to rewarding its board members and aligning their interests with shareholders in the dynamic therapeutic antibody sector.

Positive

• The granting of stock options to non-executive directors aligns their interests with shareholders.
• Quarterly vesting of options encourages sustained commitment from the board.

Negative

• The exercise price of Cdn $6.89 may pose a challenge if the share price does not rise above this level.

VICTORIA, British Columbia--(BUSINESS WIRE)-- IMMUNOPRECISE ANTIBODIES LTD. (“IPA” or the “Company”) (NASDAQ: IPA) (TSXV: IPA), a leader in full-service, therapeutic antibody discovery, today announced that its board of directors has approved the grant of 28,250 stock options (the “Options”) under its stock option plan to acquire up to an aggregate of 28,250 common shares in the capital of IPA (“Common Shares”). Each of the three non-executive directors of IPA re-elected at the Company’s recent Annual General Meeting has been granted 5,650 Options and, consistent with the Company’s past practice for the first grant following election to the Company’s Board of Directors, Ms. Anna Pettersson, who was first elected at that Annual General Meeting, has been granted 11,300 Options. Each Option is exercisable for a period of five years from the date of grant at an exercise price of Cdn $6.89 per Common Share. One quarter of the Options granted to each director will vest every three months from the date of grant.

ImmunoPrecise Antibodies Ltd.

ImmunoPrecise is an innovation-driven technology platform company that supports its business partners in their quest to discover and develop novel antibodies against a broad range of classes of disease targets. The Company aims to transform the conventional multi-vendor antibody discovery model by providing a comprehensive suite of services tailored to optimize antibody genetic diversity and epitope coverage, to discover antibodies against rare and/or challenging epitopes. For further information, visit www.immunoprecise.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220103005408/en/

LifeSci Advisors

John Mullaly

Email: jmullaly@lifesciadvisors.com

Source: ImmunoPrecise Antibodies Ltd.

FAQ

What recent decision did ImmunoPrecise Antibodies Ltd. make regarding stock options?

ImmunoPrecise Antibodies Ltd. approved the grant of 28,250 stock options to its non-executive directors.

How many stock options were granted to each director at ImmunoPrecise Antibodies?

Each of the three non-executive directors received 5,650 stock options, while Anna Pettersson received 11,300 options.

What is the exercise price for the stock options granted by IPA?

The exercise price for the stock options is Cdn $6.89 per common share.

How long are the stock options exercisable for ImmunoPrecise Antibodies Ltd.?

The stock options are exercisable for a period of five years from the date of grant.

When will the stock options for directors at IPA vest?

One quarter of the stock options granted will vest every three months from the date of grant.