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NanoString Reports Inducement Grants Under Nasdaq Listing Rules
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
NanoString Technologies (NSTG) announced equity inducement awards for 16 new employees, granting a total of 144,767 restricted stock units (RSUs) on March 4, 2023. These awards, approved by the Compensation and Human Capital Committee, will vest in three parts over three years. The RSUs are outside of the company's current equity plan but align with the terms of their 2022 Equity Incentive Plan. This move aims to attract top talent as NSTG continues to enhance its life science tools, particularly in spatial biology and molecular imaging.
Positive
Approval of 144,767 RSUs for new employees to enhance talent acquisition.
Inducement awards align with company goals to strengthen employee engagement.
Negative
None.
SEATTLE--(BUSINESS WIRE)--
NanoString Technologies, Inc. (Nasdaq: NSTG), a leading provider of life science tools for discovery and translational research, today announced, as required by Nasdaq Stock Market Rules, equity inducement awards to 16 new employees.
In accordance with Nasdaq Listing Rule 5635(c)(4), on March 4, 2023, the Compensation and Human Capital Committee of NanoString’s Board of Directors approved the grant of, in the aggregate, 144,767 restricted stock units, or RSUs, as material inducements to the 16 employees entering into employment with NanoString. One-third of the RSUs vest on the first market trading day on or following the first anniversary of the grant date and one-third of the RSUs vest annually each year on the first market trading day on or after the second and third anniversaries of the grant date, subject to each employee’s continued service through each such date.
The inducement RSU awards were made outside of NanoString’s current equity plan, the 2022 Equity Incentive Plan, and under NanoString's 2018 Inducement Equity Incentive Plan and related award agreements, but will be subject to terms and conditions generally consistent with those in the 2022 Equity Incentive Plan.
About NanoString
NanoString Technologies, a leader in spatial biology, offers an ecosystem of innovative discovery and translational research solutions, empowering our customers to map the universe of biology. The GeoMx® Digital Spatial Profiler, cited in approximately 200 peer-reviewed publications, is a flexible and consistent solution combining the power of whole tissue imaging with gene expression and protein data for spatial whole transcriptomics and proteomics from one FFPE slide. The CosMx™ Spatial Molecular Imager is an FFPE-compatible, single-cell imaging platform powered by spatial multiomics enabling researchers to map single cells in their native environments to extract deep biological insights and novel discoveries from one experiment. The AtoMx™ Spatial Informatics Platform is a cloud-based informatics solution with advanced analytics and global collaboration capabilities, enabling powerful spatial biology insights anytime, anywhere. At the foundation of our research tools is our nCounter® Analysis System, cited in approximately 6,500 peer-reviewed publications, which offers a secure way to easily profile the expression of hundreds of genes, proteins, miRNAs, or copy number variations, simultaneously with high sensitivity and precision.
NanoString, NanoString Technologies, the NanoString logo, GeoMx, CosMx, AtoMx and nCounter are trademarks or registered trademarks of NanoString Technologies, Inc. in various jurisdictions.
What are the details of the RSUs awarded by NanoString Technologies?
NanoString Technologies awarded a total of 144,767 restricted stock units (RSUs) to 16 new employees on March 4, 2023, with vesting scheduled over three years.
How does the RSU grant impact NanoString's stock performance?
The RSU grant may positively impact stock performance by attracting and retaining skilled employees, aligning their interests with shareholders.
What is the purpose of the RSUs granted by NanoString?
The RSUs are aimed at inducing new employees, thereby enhancing talent acquisition and retaining skilled personnel within the company.
What equity plan are the RSUs granted under?
The RSUs were granted under NanoString's 2018 Inducement Equity Incentive Plan, outside of the current 2022 Equity Incentive Plan.
When do the RSUs vest for NanoString employees?
The RSUs vest in three parts: one-third on the first anniversary of the grant date and one-third annually on the first market trading days of the following two anniversaries.
