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 32,130 ordinary shares to three new employees as part of their compensation package. The stock options, effective August 31, 2021, have an exercise price of $1.06 per share, matching the closing price on the grant date. Each option has a 10-year term and vests over four years, contingent upon the employees' continued service. This grant follows Nasdaq's inducement grant exception and reflects Nabriva's commitment to attract talent in the biopharmaceutical sector.

Positive

• Granting stock options to new employees may enhance talent acquisition and retention, contributing to future growth.

Negative

• None.

DUBLIN, Ireland, Sept. 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 32,130 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 August 31, 2021 with an exercise price of $1.06 per share, which is equal to the closing price of Nabriva Therapeutics’ 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 was the recent stock option grant by Nabriva Therapeutics on August 31, 2021?

Nabriva Therapeutics granted 32,130 stock options to three new employees as part of their inducement for employment.

What is the exercise price for the stock options granted by Nabriva Therapeutics?

The exercise price for the stock options is $1.06 per share.

How long do the stock options granted by Nabriva Therapeutics last?

Each stock option has a term of 10 years.

How do the stock options vest for new employees at Nabriva Therapeutics?

The stock options vest over four years, with 25% vesting annually.

What is the significance of the stock option grant for Nabriva Therapeutics?

The grant reflects Nabriva's strategy to attract and retain talent in the competitive biopharmaceutical industry.