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 under its 2022 Inducement Equity Incentive Plan, effective February 20, 2023, to incentivize four new employees. The awards encompass a total of 85,000 restricted stock units (RSUs), which will vest over a period, with 1/4th vesting on February 20, 2024, and the remainder vesting quarterly thereafter. This move is aligned with Nasdaq Listing Rule 5635(c)(4). The company continues its commitment to revolutionizing biomedical research through innovative technologies that enhance patient outcomes.

Positive

• Granting of 85,000 RSUs shows commitment to attract talent.
• Incentives align with Nasdaq compliance and good governance practices.

Negative

• None.

SOUTH SAN FRANCISCO, Calif., Feb. 21, 2023 (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 February 20, 2023, under the Standard BioTools Inc. 2022 Inducement Equity Incentive Plan (Plan), as a material inducement to four 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 85,000 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 February 20, 2024, 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 is the recent stock award announcement by Standard BioTools (LAB)?

On February 20, 2023, Standard BioTools granted 85,000 restricted stock units (RSUs) to four new employees as part of its 2022 Inducement Equity Incentive Plan.

How many restricted stock units were awarded to new employees at Standard BioTools?

A total of 85,000 restricted stock units (RSUs) were awarded to four new employees.

What is the vesting schedule for the restricted stock units at Standard BioTools (LAB)?

The RSUs will vest 1/4th on February 20, 2024, with the remaining shares vesting quarterly thereafter.

Why did Standard BioTools grant equity awards according to Nasdaq Listing Rule 5635(c)(4)?

The equity awards were granted as material inducement for new employees, complying with Nasdaq's governance standards.