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

Rhea-AI Summary

Nabriva Therapeutics (NASDAQ: NBRV) announced the grant of non-statutory stock options amounting to 15,000 ordinary shares to two newly-hired employees as part of their employment compensation. The options, effective April 30, 2021, have an exercise price of $1.78 per share, aligning with the closing price on the grant date. Vested over four years, the options require the employees' continued service. Furthermore, the Compensation Committee approved these awards under Nasdaq's inducement grant exception.

Positive

• Granted stock options as an inducement for new hires, which may enhance talent acquisition.
• Stock options have a favorable exercise price equal to the closing price on grant date.

Negative

• Limited immediate financial impact as stock options do not provide immediate cash inflow.
• Potential dilution of shares for existing shareholders upon exercise of stock options.

DUBLIN, Ireland, May 03, 2021 (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 non-statutory stock options to purchase an aggregate of 15,000 ordinary shares of Nabriva Therapeutics as an inducement to two newly-hired employees. These grants were awarded pursuant to the Nasdaq inducement grant exception as a component of new hire employment compensation.

The stock options were granted effective April 30, 2021 with an exercise price of $1.78 per share, which is equal to the closing price of Nabriva Therapeutics’s ordinary shares on the date of grant. Each stock option granted 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 awards were approved by Nabriva Therapeutics’ Compensation Committee and were granted as an inducement material to each employee’s acceptance of employment in accordance with Nasdaq Listing Rule 5635(c)(4). Each of the stock options 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

For Media
Andrea Greif
Ogilvy
andrea.greif@ogilvy.com
914-772-3027

FAQ

What is the significance of Nabriva Therapeutics' recent stock option grant on May 3, 2021?

Nabriva Therapeutics granted 15,000 stock options to attract two new employees, which may enhance the company's talent pool.

What are the details of the stock options granted by Nabriva Therapeutics?

The stock options were granted at an exercise price of $1.78, with a four-year vesting period effective April 30, 2021.

How do the stock options impact Nabriva Therapeutics shareholders?

The stock options may lead to share dilution when exercised, affecting existing shareholders.

What is the Nasdaq inducement grant exception?

It allows companies to grant stock options as part of employment compensation to attract new talent.

When do the stock options granted by Nabriva Therapeutics vest?

The stock options vest over four years, with 25% vesting annually on the anniversary of the grant date.