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 106,000 ordinary shares to two newly hired employees, including 100,000 shares to Daniel Dolan, the new CFO. The options have an exercise price of $1.66 per share, matching the closing price on the grant date of March 31, 2021. Each option has a 10-year term and vests over four years, contingent on continued employment. This action is part of Nabriva's compensation strategy under Nasdaq rules, aiming to incentivize talent acquisition.

Positive

• Granting of stock options may attract potential talent, enhancing company growth.
• The exercise price aligns with the market, indicating no immediate dilution.

Negative

• No significant immediate financial metrics or impacts on revenue were disclosed.

DUBLIN, Ireland, April 02, 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 106,000 ordinary shares of Nabriva Therapeutics as an inducement to two newly-hired employees. These grants included a non-statutory option to purchase 100,000 ordinary shares of Nabriva Therapeutics awarded to Daniel Dolan, Nabriva’s newly appointed Chief Financial Officer. Both awards were made pursuant to the Nasdaq inducement grant exception as a component of the new hires’ employment compensation.

The stock options were granted effective March 31, 2021 with an exercise price of $1.66 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
Mike Beyer
Sam Brown Inc.
mikebeyer@sambrown.com
312-961-2502

FAQ

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

Nabriva granted 106,000 stock options at an exercise price of $1.66 per share to two new employees, effective March 31, 2021.

Who received stock options from Nabriva Therapeutics?

Daniel Dolan, the new CFO, received a non-statutory option to purchase 100,000 ordinary shares.

What is the vesting schedule for Nabriva's stock options?

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

How might the stock options impact Nabriva Therapeutics' business?

Stock options can help attract and retain key talent, potentially supporting business growth.