Standard BioTools Inc. Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Standard BioTools (Nasdaq:LAB) announced on August 25, 2022, that its Compensation Committee granted equity awards to twenty new employees as part of the 2022 Inducement Equity Incentive Plan. The awards, totaling 316,900 restricted stock units (RSUs), become effective August 22, 2022, with vesting occurring in stages starting May 20, 2023. Each RSU vests at 25% on the first date, followed by 6.25% every three months, contingent on continued employment. This move aligns with Nasdaq Listing Rule 5635(c)(4).

Positive

• Grant of 316,900 RSUs supports employee retention.
• Equity awards are a strategic incentive for new talent.
• Compliance with Nasdaq regulations enhances corporate governance.

Negative

• None.

SOUTH SAN FRANCISCO, Calif., Aug. 25, 2022 (GLOBE NEWSWIRE) -- Standard BioTools Inc. (Nasdaq:LAB) today announced that the Compensation Committee of its Board of Directors, which is composed entirely of independent directors, granted equity awards effective as of August 22, 2022, under the Standard BioTools Inc. 2022 Inducement Equity Incentive Plan (Plan), as a material inducement to twenty individuals entering into employment with Standard BioTools. The equity awards were approved in accordance with Nasdaq Listing Rule 5635(c)(4).

In connection with the individuals entering into employment with Standard BioTools as new employees, none of whom were previously employees or directors of Standard BioTools, the individuals received awards totaling an aggregate of 316,900 restricted stock units (RSU Awards). For each employee receiving an RSU Award, 1/4th of the total number of shares of common stock underlying each RSU Award will vest on either May 20, 2023 or August 20, 2023, and 1/16th of the shares will vest every three months thereafter 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 of the RSU Awards is subject to the employee continuing to be a service provider through each such vesting date, in addition to other terms and conditions of the Plan.

About Standard BioTools Inc. 
Standard BioTools Inc. (Nasdaq:LAB), previously known as Fluidigm Corporation, is driven by a bold purpose – Unleashing tools to accelerate breakthroughs in human health. Standard BioTools 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 www.standardbiotools.com or connect with us on Twitter^®, Facebook^®, LinkedIn, and YouTube™. Standard BioTools, the Standard BioTools logo, Fluidigm, the Fluidigm logo, and “Unleashing tools to accelerate breakthroughs in human health” are trademarks and/or registered trademarks of Standard BioTools Inc. or its affiliates in the United States and/or other countries. All other trademarks are the sole property of their respective owners. Standard BioTools products are provided for Research Use Only. Not for use in diagnostic procedures. 

Investors:
Peter DeNardo
415 389 6400
ir@standardbio.com

FAQ

What is the significance of the RSU awards granted by Standard BioTools (LAB)?

The RSU awards aim to attract and retain talent, ensuring key positions are filled as the company grows.

When do the RSUs for Standard BioTools (LAB) employees vest?

The RSUs vest 25% on May 20, 2023, with additional vesting of 6.25% every three months thereafter.

How many restricted stock units were granted by Standard BioTools (LAB)?

A total of 316,900 restricted stock units were granted to twenty new employees.

What is the purpose of the 2022 Inducement Equity Incentive Plan for Standard BioTools (LAB)?

The plan is designed to incentivize new hires and align their interests with those of shareholders.

Does the RSU grant affect Standard BioTools' (LAB) stock performance?

While the RSU grant itself does not directly impact stock performance, it may influence investor sentiment regarding the company’s growth strategy.