OraSure Technologies Announces Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
OraSure Technologies, Inc. (NASDAQ: OSUR) announced on June 4, 2022, that its Board of Directors granted an inducement award to new CEO Carrie Eglinton Manner. This award includes:
- 814,830 restricted stock shares, vesting fully on June 4, 2024.
- 325,932 restricted stock shares, vesting in three annual installments starting June 4, 2023.
- 325,932 performance restricted stock units, vesting in three annual installments subject to performance conditions.
The award was granted under Nasdaq Rule 5635(c)(4), facilitating Ms. Manner's employment with the company.
- Inducement award for new CEO enhances executive alignment with shareholder interests.
- Significant stock awards suggest confidence in company's future performance.
- None.
BETHLEHEM, Pa., June 08, 2022 (GLOBE NEWSWIRE) -- OraSure Technologies, Inc. (NASDAQ: OSUR), a global leader in point-of-care and home diagnostic testing and sample collection technologies, announced today that on June 4, 2022, OraSure’s Board of Directors granted Carrie Eglinton Manner, the Company’s newly appointed President and Chief Executive Officer, an inducement award. The award comprised of (i) a restricted stock award for 814,830 shares of the Company’s common stock, which will vest in full on June 4, 2024, (ii) a restricted stock award for 325,932 shares of the Company’s common stock, which will vest in three equal annual installments, beginning on June 4, 2023, and on each anniversary thereafter over the next two years, and (iii) a performance restricted stock unit award for a target amount of 325,932 shares of the Company’s common stock, which will vest in three equal annual installments, beginning on June 4, 2023, and on each anniversary thereafter over the next two years, subject to the achievement of the performance conditions set forth in the applicable award agreement, and in each case, subject to Ms. Manner’s continued employment through each of the relevant vesting dates.
The inducement award was granted pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules as an inducement material to Ms. Eglinton Manner entering into employment with the Company.
About OraSure Technologies
OraSure Technologies empowers the global community to improve health and wellness by providing access to accurate, essential information. OraSure, together with its wholly-owned subsidiaries, DNA Genotek, Diversigen, and Novosanis, provides its customers with end-to-end solutions that encompass tools, services and diagnostics. The OraSure family of companies is a leader in the development, manufacture, and distribution of rapid diagnostic tests, sample collection and stabilization devices, and molecular services solutions designed to discover and detect critical medical conditions. OraSure’s portfolio of products is sold globally to clinical laboratories, hospitals, physician’s offices, clinics, public health and community-based organizations, research institutions, government agencies, pharma, commercial entities and direct to consumers. For more information on OraSure Technologies, please visit www.orasure.com.
| Investor Contact: | Media Contact: |
| Scott Gleason | Amy Koch |
| Interim CFO & SVP Investor Relations & Corp. Communications | Sr. Mgr. Corporate Communications |
| 484-425-0588 | 484-523-1815 |
| sgleason@orasure.com | media@orasure.com |
FAQ
What stock award was granted to Carrie Eglinton Manner at OraSure Technologies?
When will Carrie Eglinton Manner's stock awards at OraSure vest?
What is the significance of the inducement award for OSUR shareholders?
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