Nabriva Therapeutics Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Nabriva Therapeutics plc (NASDAQ: NBRV) announced a non-statutory stock option for 12,000 ordinary shares, granted to a new employee as part of their compensation. The option, effective February 28, 2022, has an exercise price of $0.45 per share, equaling the closing price on that date. It features a 10-year term, vesting over four years at 25% annually, contingent on continued employment. This grant complies with Nasdaq’s inducement grant exception. Nabriva is focused on anti-infective agents, with FDA approval for XENLETA and ongoing development of CONTEPO.

Positive

• The stock option grant aligns with Nasdaq's inducement grant exception, potentially attracting talent.
• Nabriva's FDA approval for XENLETA marks a significant achievement in their product offering.

Negative

• None.

DUBLIN, Ireland, March 01, 2022 (GLOBE NEWSWIRE) -- Nabriva Therapeutics plc (NASDAQ: NBRV), a biopharmaceutical company engaged in the commercialization and development of innovative anti-infective agents to treat serious infections, today announced that it has granted a non-statutory stock option to purchase an aggregate of 12,000 ordinary shares of Nabriva Therapeutics as an inducement to a newly hired employee. This grant was awarded pursuant to the Nasdaq inducement grant exception as a component of new hire employment compensation.

The stock option was granted effective February 28, 2022 with an exercise price of $0.45 per share, which is equal to the closing price of Nabriva Therapeutics’ ordinary shares on the date of grant. The stock option has a 10-year term and vests over four years, with 25% of the original number of shares vesting on the annual anniversary of the grant date until fully vested, subject to the employee's continued service with the Company through the applicable vesting dates. The stock option award was approved by Nabriva Therapeutics’ Compensation Committee and was granted as an inducement material to the new employee’s acceptance of employment in accordance with Nasdaq Listing Rule 5635(c)(4). The stock option is subject to the terms and conditions of a stock option agreement covering the grant and Nabriva Therapeutics’ 2021 Inducement Share Incentive Plan.

About Nabriva Therapeutics plc
Nabriva Therapeutics is a biopharmaceutical company engaged in the commercialization and development of innovative anti-infective agents to treat serious infections. Nabriva Therapeutics received U.S. Food and Drug Administration approval for XENLETA® (lefamulin injection, lefamulin tablets), the first systemic pleuromutilin antibiotic for community-acquired bacterial pneumonia (CABP). Nabriva Therapeutics is also developing CONTEPO™ (fosfomycin) for injection, a potential first-in-class epoxide antibiotic for complicated urinary tract infections (cUTI), including acute pyelonephritis. Nabriva entered into an exclusive agreement with subsidiaries of Merck & Co. Inc., Kenilworth, N.J., USA to market, sell and distribute SIVEXTRO® (tedizolid phosphate) in the United States and certain of its territories.

CONTACTS:

For Investors
Kim Anderson
Nabriva Therapeutics plc
ir@nabriva.com

FAQ

What stock option was granted by Nabriva Therapeutics?

Nabriva Therapeutics granted a stock option for 12,000 ordinary shares at an exercise price of $0.45 per share.

When was the stock option grant effective for Nabriva Therapeutics?

The stock option grant was effective on February 28, 2022.

What is the significance of Nabriva's stock option grant?

The grant serves as an inducement to attract a new employee, aligning with Nasdaq rules.

How long is the term for the stock option granted by Nabriva?

The stock option has a 10-year term.

What are the vesting terms for the option granted by Nabriva?

The stock option vests over four years, with 25% vesting annually.