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

Rhea-AI Summary

Nabriva Therapeutics plc (NASDAQ: NBRV) has granted stock options to purchase a total of 2,250 shares as an inducement to a new employee. Effective June 30, 2021, the options have an exercise price of $1.35 per share and a ten-year term, vesting over four years. This grant aligns with Nasdaq's inducement grant exception and aims to enhance compensation for the hire. Nabriva is known for its work in anti-infective agents, including the FDA-approved XENLETA® for community-acquired bacterial pneumonia and the development of CONTEPO™ for complicated urinary tract infections.

Positive

• Stock options granted to a new hire signify strategic growth and recruitment efforts.
• Options are priced at $1.35, aligning with the company's closing stock price.

Negative

• None.

DUBLIN, Ireland, July 09, 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 2,250 ordinary shares of Nabriva Therapeutics as an inducement to a newly-hired employee. 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 June 30, 2021 with an exercise price of $1.35 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 stock options were granted by Nabriva Therapeutics on June 30, 2021?

Nabriva Therapeutics granted stock options to purchase 2,250 ordinary shares at an exercise price of $1.35.

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

The stock options have a ten-year term and vest over four years.

What is the purpose of the stock option grants at Nabriva Therapeutics?

The grants are designed as inducements for new employees to accept their positions.

What significant products does Nabriva Therapeutics develop?

Nabriva develops anti-infective agents, including XENLETA® for pneumonia and CONTEPO™ for urinary tract infections.