Standard BioTools Inc. Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
Standard BioTools announced the grant of 207,832 restricted stock units (RSUs) under its 2022 Inducement Equity Incentive Plan, effective May 20, 2024. This grant serves as an inducement for a new employee and complies with Nasdaq Listing Rule 5635(c)(4).
The RSUs will vest initially on May 20, 2025, with 1/4th of the shares vesting on this date. Following this, 1/16th of the shares will vest every three months, contingent upon the employee's continued service.
- Inducement grant of 207,832 RSUs to attract new talent.
- Grant complies with Nasdaq Listing Rule 5635(c)(4).
- Structured vesting schedule starting May 20, 2025, aids in employee retention.
- Equity award may dilute existing shareholders' equity.
- Vesting contingent on continued service, posing potential risks if the employee leaves.
SOUTH SAN FRANCISCO, Calif., May 20, 2024 (GLOBE NEWSWIRE) -- Standard BioTools Inc. (“Standard BioTools”) (Nasdaq:LAB) today announced that the Human Capital Committee of its Board of Directors, which is composed entirely of independent directors, granted an equity award effective as of May 20, 2024, under the Standard BioTools Inc. 2022 Inducement Equity Incentive Plan (Plan). The equity award consisted of an award of 207,832 restricted stock units (RSUs) as a material inducement to a new employee entering into employment with Standard BioTools. The RSU award was approved in accordance with Nasdaq Listing Rule 5635(c)(4).
With respect to the RSUs, 1/4th of the total number of shares of common stock underlying the RSUs will initially vest on May 20, 2025 and 1/16th of the shares underlying the RSUs will vest every three months after the initial vesting date until fully vested; provided, however, that if a vesting date would otherwise fall on a day when the national stock exchange upon which the shares are listed is not open for trading, vesting will occur on the first trading day thereafter. Vesting in all instances is subject to the new employee’s continued service with Standard BioTools through each applicable vesting date, in addition to the other terms and conditions of the Plan and the RSU agreement covering the grant.
About Standard BioTools Inc.
Standard BioTools Inc. (Nasdaq:LAB), the parent company of SomaLogic Inc. and previously known as Fluidigm Corporation, has an established portfolio of essential, standardized next-generation technologies that help biomedical researchers develop medicines faster and better. As a leading solutions provider, the company provides reliable and repeatable insights in health and disease using its proprietary mass cytometry and microfluidics technologies, which help transform scientific discoveries into better patient outcomes. Standard BioTools works with leading academic, government, pharmaceutical, biotechnology, plant and animal research and clinical laboratories worldwide, focusing on the most pressing needs in translational and clinical research, including oncology, immunology and immunotherapy. Learn more at standardbio.com or connect with us on X, Facebook®, LinkedIn, and YouTube™.
For Research Use Only. Not for use in diagnostic procedures.
Limited Use Label License and other terms may apply: www.standardbio.com/legal/salesterms. Patent and License Information: www.standardbio.com/legal/notices. Trademarks: www.standardbio.com/legal/trademarks. Any other trademarks are the sole property of their respective owners. ©2024 Standard BioTools Inc. (f.k.a. Fluidigm Corporation). All rights reserved.
Investor Contacts:
David Holmes
Gilmartin Group LLC
(332) 330-1031
ir@standardbio.com
FAQ
What equity award did Standard BioTools announce on May 20, 2024?
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