Lifecore Biomedical Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Lifecore Biomedical (NASDAQ: LFCR), a contract development and manufacturing organization (CDMO), has granted equity awards to its newly hired CFO, Ryan D. Lake. The awards, approved on September 3, 2024, include:
1. A Restricted Stock Unit (RSU) award for 262,500 shares, vesting over five years.
2. A Performance Stock Unit (PSU) award for up to 750,000 shares, vesting based on stock price performance over five years.
These awards were granted as inducement equity under Nasdaq Listing Rule 5635(c)(4) and Lifecore's Equity Inducement Plan. The PSU award is tied to stock price targets ranging from $5.00 to $30.00 per share.
Lifecore Biomedical (NASDAQ: LFCR), un organismo di sviluppo e produzione a contratto (CDMO), ha concesso premi azionari al suo nuovo CFO, Ryan D. Lake. I premi, approvati il 3 settembre 2024, comprendono:
1. Un premio in azioni riservate (RSU) per 262.500 azioni, con un periodo di maturazione di cinque anni.
2. Un premio in azioni basato sulle performance (PSU) fino a 750.000 azioni, con maturazione basata sulle performance del prezzo delle azioni nel corso di cinque anni.
Questi premi sono stati concessi come incentivi azionari ai sensi della Regola di Quotazione Nasdaq 5635(c)(4) e del Piano di Incentivazione Azionaria di Lifecore. Il premio PSU è legato a obiettivi di prezzo delle azioni che vanno da $5,00 a $30,00 per azione.
Lifecore Biomedical (NASDAQ: LFCR), una organización de desarrollo y fabricación por contrato (CDMO), ha otorgado premios en acciones a su nuevo CFO, Ryan D. Lake. Los premios, aprobados el 3 de septiembre de 2024, incluyen:
1. Un premio de unidad de acción restringida (RSU) para 262.500 acciones, con un periodo de adquisición de cinco años.
2. Un premio de unidad de acción por rendimiento (PSU) de hasta 750.000 acciones, que se adquirirá según el rendimiento del precio de las acciones durante cinco años.
Estos premios se otorgaron como incentivos en acciones bajo la Regla de Cotización Nasdaq 5635(c)(4) y el Plan de Incentivos de Acciones de Lifecore. El premio PSU está vinculado a objetivos de precio de acciones que oscilan entre $5.00 y $30.00 por acción.
Lifecore Biomedical (NASDAQ: LFCR)는 계약 개발 및 제조 조직(CDMO)으로, 새로 고용된 CFO인 Ryan D. Lake에게 주식 보상을 지급했습니다. 이 보상은 2024년 9월 3일에 승인되었으며, 다음과 같습니다:
1. 262,500주의 제한주식단위(RSU) 보상은 5년에 걸쳐 분할 지급됩니다.
2. 주가 성과에 따라 750,000주까지 받을 수 있는 성과주식단위(PSU) 보상은 5년 동안 주가 성과에 따라 지급됩니다.
이 보상은 Nasdaq 상장 규칙 5635(c)(4)에 따른 유인 자산으로, Lifecore의 주식 유인 계획에 의거하여 지급되었습니다. PSU 보상은 주가 목표가 $5.00에서 $30.00 사이로 설정되어 있습니다.
Lifecore Biomedical (NASDAQ: LFCR), une organisation de développement et de fabrication sous contrat (CDMO), a accordé des attributions d'actions à son nouveau CFO, Ryan D. Lake. Les attributions, approuvées le 3 septembre 2024, comprennent :
1. Une attribution d'unités d'actions restreintes (RSU) de 262 500 actions, devenant acquises sur une période de cinq ans.
2. Une attribution d'unités d'actions de performance (PSU) de jusqu'à 750 000 actions, devenant acquises en fonction de la performance du prix de l'action sur cinq ans.
Ces attributions ont été accordées comme incitations en actions selon la règle de cotation Nasdaq 5635(c)(4) et le plan d'incitation d'actions de Lifecore. L'attribution PSU est liée à des objectifs de prix allant de 5,00 à 30,00 $ par action.
Lifecore Biomedical (NASDAQ: LFCR), eine Auftragsentwicklungs- und Produktionsorganisation (CDMO), hat Aktienprämien an ihren neu eingestellten CFO, Ryan D. Lake, gewährt. Die Prämien, die am 3. September 2024 genehmigt wurden, umfassen:
1. Eine beschränkte Aktienzuteilung (RSU) von 262.500 Aktien, die über fünf Jahre vesten.
2. Eine Performance-Aktienzuteilung (PSU) von bis zu 750.000 Aktien, die basierend auf der Preisentwicklung der Aktien über einen Zeitraum von fünf Jahren vestet.
Diese Prämien wurden als Anreizaktien gemäß Regel 5635(c)(4) der Nasdaq und dem Aktienanreizplan von Lifecore vergeben. Die PSU-Prämie ist an Preisziele für Aktien gebunden, die von 5,00 bis 30,00 USD pro Aktie reichen.
- Appointment of a new Chief Financial Officer, Ryan D. Lake
- Implementation of performance-based equity incentives for the new CFO, aligning management interests with shareholders
- Potential dilution of existing shareholders due to the issuance of up to 1,012,500 new shares (262,500 RSUs + 750,000 PSUs)
CHASKA, Minn., Sept. 06, 2024 (GLOBE NEWSWIRE) -- Lifecore Biomedical, Inc. (NASDAQ: LFCR) (“Lifecore” or the “Company”), a fully integrated contract development and manufacturing organization (“CDMO”), today announced that Lifecore has granted a restricted stock unit (“RSU”) award with respect to 262,500 shares of its common stock and a performance stock unit (“PSU”) award for up to 750,000 shares of its common stock to Ryan D. Lake, Lifecore’s newly hired chief financial officer. The RSU award and PSU award were granted September 3, 2024, pursuant to the Company’s previously announced employment agreement with Mr. Lake, and as a material inducement to Mr. Lake joining Lifecore as chief financial officer.
The RSU award and PSU award were approved by Lifecore’s compensation committee and were granted as inducement equity awards in accordance with Nasdaq Listing Rule 5635(c)(4) under Lifecore’s Equity Inducement Plan adopted on March 20, 2024 (the “Inducement Plan”).
The RSU award will vest and be settled as to 52,500 shares of the RSU on each of the first five anniversaries of September 3, 2024, and is governed by a Restricted Stock Unit Award Agreement and the Inducement Plan.
The PSU award will vest, if at all, based upon the Performance Price achievement within the five-year performance period as compared to a range of ten prices from
About Lifecore Biomedical
Lifecore Biomedical, Inc. (Nasdaq: LFCR) is a fully integrated contract development and manufacturing organization (CDMO) that offers highly differentiated capabilities in the development, fill and finish of sterile injectable pharmaceutical products in syringes, vials, and cartridges, including complex formulations. As a leading manufacturer of premium, injectable-grade hyaluronic acid, Lifecore brings more than 40 years of expertise as a partner for global and emerging biopharmaceutical and biotechnology companies across multiple therapeutic categories to bring their innovations to market. For more information about the Company, visit Lifecore’s website at www.lifecore.com.
FAQ
What equity awards did Lifecore Biomedical (LFCR) grant to its new CFO?
How will the RSU award for Lifecore Biomedical's (LFCR) new CFO vest?
What are the vesting conditions for the PSU award granted by Lifecore Biomedical (LFCR)?
Under what rule were these equity awards granted by Lifecore Biomedical (LFCR)?
