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

Rhea-AI Summary

Nabriva Therapeutics (NASDAQ: NBRV) announced on August 3, 2021, the granting of non-statutory stock options to three new employees. The stock options total 10,500 shares with an exercise price of $1.10, matching the closing price on the grant date, July 30, 2021. Each option has a 10-year term, vesting over four years based on continued service. The grant complies with Nasdaq Listing Rule 5635(c)(4) and is part of the new hire compensation. Nabriva focuses on developing anti-infective agents and has received FDA approval for XENLETA®.

Positive

• Granting of stock options indicates a commitment to attracting talent.
• Options are tied to the company's stock price, aligning employee interests with shareholder value.

Negative

• None.

DUBLIN, Ireland, Aug. 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 10,500 ordinary shares of Nabriva Therapeutics as an inducement to three 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 July 30, 2021 with an exercise price of $1.10 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 granting stock options on August 3, 2021?

The stock options granted are part of the new hire compensation, indicating the company's strategy to attract and retain talent.

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

Nabriva granted 10,500 stock options at an exercise price of $1.10 per share, vesting over four years.

How does the stock option grant affect Nabriva Therapeutics' stock performance?

While it aligns employee interests with shareholder value, the direct impact on stock performance will depend on the company's future financial results and market conditions.