Lucira Health Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Lucira Health, Inc. (Nasdaq: LHDX) announced the grant of 20,825 restricted stock units (RSUs) to three new employees as part of their 2022 Inducement Plan on April 6, 2022. The RSUs aim to incentivize the new hires, vesting over four years, with 25% of shares vesting after one year and the remainder vesting quarterly. Lucira is focused on innovative infectious disease test kits, including the Lucira™ Check-It COVID-19 Test Kit, which provides results within 30 minutes.

Positive

• Inducement awards granted to attract talent, signaling potential growth.
• RSUs vesting over four years encourage employee retention.

Negative

• None.

EMERYVILLE, Calif., April 11, 2022 (GLOBE NEWSWIRE) -- Lucira Health, Inc. (Nasdaq: LHDX), a medical technology company focused on the development and commercialization of transformative and innovative infectious disease test kits, today announced that on April 6, 2022, the Board of Directors of Lucira granted inducement awards consisting of 20,825 restricted stock units (“RSUs”) to three new employees under Lucira’s 2022 Inducement Plan. The Board of Directors approved the awards as an inducement material to the new employees’ employment in accordance with Nasdaq Listing Rule 5635(c)(4).

The RSUs will vest over four years, with 25% of the underlying shares vesting on the one year anniversary of the applicable vesting commencement date and 1/16^th of the underlying shares vesting quarterly thereafter, subject to the new employees’ continued service relationship with Lucira through the applicable vesting dates. The awards are subject to the terms and conditions of Lucira’s 2022 Inducement Plan and the terms and conditions of an applicable award agreement covering the grant.

About Lucira Health

Lucira is a medical technology company focused on the development and commercialization of transformative and innovative infectious disease test kits. Lucira’s testing platform produces lab quality molecular testing in a single-use, consumer-friendly, palm-size test kit powered by two AA batteries. Lucira designed its test kits to provide accurate, reliable, and on-the-spot molecular test results anywhere and at any time. The Lucira™ Check-It COVID-19 Test Kit (OTC) and Lucira™ COVID-19 All-In-One Test Kit (Rx) are designed to provide a clinically relevant COVID-19 result within 30 minutes from sample collection. For more information, visit www.lucirahealth.com.

Investor Relations
Greg Chodaczek
investorrelations@lucirahealth.com
347-620-7010

FAQ

What is the recent stock award announcement from Lucira Health (LHDX)?

Lucira Health announced the granting of 20,825 restricted stock units (RSUs) to three new employees on April 6, 2022.

How does the RSU vesting schedule work for Lucira Health (LHDX)?

The RSUs will vest over four years, with 25% vesting after the first year and the rest vesting quarterly.

What is the purpose of the RSUs granted by Lucira Health (LHDX)?

The RSUs are granted as an inducement for new employees to encourage their employment and retention.

What products does Lucira Health (LHDX) focus on?

Lucira Health specializes in developing transformative infectious disease test kits, including COVID-19 testing kits.