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

Rhea-AI Summary

Nabriva Therapeutics (NASDAQ: NBRV) announced the granting of non-statutory stock options for 6,000 ordinary shares to two new employees, effective May 28, 2021. The exercise price is set at $1.38 per share, aligning with the closing price on the grant date. These stock options have a 10-year term and will vest over four years, contingent on the employees' continued service. This grant was made under Nasdaq's inducement grant exception, highlighting the company's commitment to attracting talent in the biopharmaceutical sector.

Positive

• Granting of stock options may enhance employee satisfaction and retention.
• Stock options are tied to the company's performance, possibly aligning employee and shareholder interests.

Negative

• None.

DUBLIN, Ireland, June 01, 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 6,000 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 May 28, 2021 with an exercise price of $1.38 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 1, 2021?

Nabriva Therapeutics granted non-statutory stock options to purchase 6,000 ordinary shares at an exercise price of $1.38 per share.

How long is the vesting period for the stock options granted by Nabriva?

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

What is the significance of the stock options granted by Nabriva Therapeutics?

The stock options were granted as an inducement for two new employees, which may aid in attracting and retaining talent.

What is the exercise price for the stock options granted by Nabriva on May 28, 2021?

The exercise price for the stock options is $1.38 per share.

Under what rule were the stock options granted by Nabriva Therapeutics?

The stock options were granted under the Nasdaq Listing Rule 5635(c)(4), as an inducement material to the employees' acceptance of employment.