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Pulse Biosciences Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
Pulse Biosciences (NASDAQ: PLSE) recently announced the granting of equity inducement awards to three new employees. The Compensation Committee approved stock options for a total of 108,500 shares at an exercise price of $2.05, matching the closing stock price on June 15, 2022. The awards are structured mostly with four-year time-based vesting and include performance criteria for one employee. This move aligns with Nasdaq Listing Rule 5635(c)(4) and aims to attract and retain talent within the company.
Positive
Equity inducement awards aimed at attracting talent.
Stock options granted at a favorable exercise price of $2.05.
Negative
None.
HAYWARD, Calif.--(BUSINESS WIRE)--
Pulse Biosciences, Inc. (Nasdaq: PLSE), a novel bioelectric medicine company commercializing the CellFX® System powered by Nano-Pulse Stimulation™ (NPS™) technology, today announced that the Compensation Committee of its Board of Directors has granted equity awards to three new employees as equity inducement awards outside of the Company's 2017 Equity Incentive Plan, but under the terms of the 2017 Equity Incentive Plan. The equity awards were approved and issued on June 15, 2022, in accordance with Nasdaq Listing Rule 5635(c)(4).
The employees have been granted stock options to acquire up to an aggregate of 108,500 shares of Company common stock. The Company’s independent compensation committee approved these awards as an inducement to their employment in accordance with Nasdaq Listing Rule 5635(c)(4). The stock options have an exercise price of $2.05 per share, which is equal to the closing price of the Company’s common stock on June 15, 2022, and most will be subject to time-based vesting over four years, with 1/4 of each award vesting annually, subject to the employee’s continued employment with Pulse Biosciences. One of the employees has received an award with a mix of both time-based and performance-based vesting criteria over four years, subject to his continued employment with Pulse Biosciences. The options are subject to the terms and conditions of the 2017 Inducement Equity Incentive Plan and the award agreements entered into with each recipient.
About Pulse Biosciences®
Pulse Biosciences is a novel bioelectric medicine company committed to health innovation that has the potential to improve the quality of life for patients. The Company’s proprietary Nano-Pulse Stimulation technology delivers nano-second pulses of electrical energy to non-thermally clear cells while sparing adjacent non-cellular tissue. The CellFX® System is the first commercial product to harness the distinctive advantages of NPS technology to treat a variety of applications for which an optimal solution remains unfulfilled. The initial commercial use of the CellFX System is to address a range of dermatologic conditions that share high demand among patients and practitioners for improved dermatologic outcomes. Designed as a multi-application platform, the CellFX System offers customer value with a utilization-based revenue model. Visit pulsebiosciences.com to learn more.
To stay informed about the CellFX System, please visit CellFX.com and sign-up for updates.
Pulse Biosciences, CellFX, Nano-Pulse Stimulation, NPS and the stylized logos are among the trademarks and/or registered trademarks of Pulse Biosciences, Inc. in the United States, and other countries.
