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

Rhea-AI Summary

Standard BioTools Inc. (Nasdaq:LAB) announced the grant of equity awards on November 20, 2022, under its 2022 Inducement Equity Incentive Plan to ten new employees. The awards comprise 235,200 restricted stock units (RSUs), with 25% vesting on November 20, 2023, and the remainder vesting quarterly thereafter. This move complies with Nasdaq Listing Rule 5635(c)(4) and aims to attract new talent. Standard BioTools focuses on providing innovative technologies for biomedical research, significantly impacting human health.

Positive

• Granting of 235,200 RSUs to new employees enhances talent acquisition.
• Compliance with Nasdaq Listing Rule supports company governance.

Negative

• None.

SOUTH SAN FRANCISCO, Calif., Nov. 22, 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 November 20, 2022, under the Standard BioTools Inc. 2022 Inducement Equity Incentive Plan (Plan), as a material inducement to ten 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 235,200 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 November 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.standardbio.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:

Scott R. Greenstone, CFA
ir@standardbio.com

Peter DeNardo
415 389 6400
ir@standardbio.com

FAQ

What equity awards were granted by Standard BioTools on November 20, 2022?

Standard BioTools granted 235,200 restricted stock units (RSUs) to ten new employees as part of its 2022 Inducement Equity Incentive Plan.

Who received the equity awards from Standard BioTools?

The equity awards were granted to ten individuals who entered into employment with Standard BioTools, none of whom were previously employees or directors.

What is the vesting schedule for the RSUs granted by Standard BioTools?

For each employee, 25% of the RSUs will vest on November 20, 2023, with the remainder vesting quarterly thereafter.

How does the RSU grant comply with Nasdaq regulations?

The RSU grants were approved by an independent Compensation Committee in accordance with Nasdaq Listing Rule 5635(c)(4).

What is Standard BioTools' focus in the biomedical field?

Standard BioTools is dedicated to providing next-generation technologies that accelerate breakthroughs in human health, specifically in areas like oncology and immunotherapy.