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Personalis Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
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Personalis, Inc. (PSNL) announced the grant of non-qualified stock options to purchase 29,000 shares of its common stock to eight new employees under the 2020 Inducement Plan. The options were granted on January 15, 2024, with an exercise price of $1.74 per share. The options vest over four years, with 25% of the shares vesting on the first anniversary of the grant date and 1/36th of the remaining shares vesting monthly thereafter.
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FREMONT, Calif.--(BUSINESS WIRE)--
Personalis, Inc. (Nasdaq: PSNL), a leader in advanced genomics for precision oncology, today announced that the Compensation Committee of its Board of Directors granted non-qualified stock options to purchase an aggregate of 29,000 shares of its common stock to eight new employees under Personalis’ 2020 Inducement Plan.
The 2020 Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously an employee, or non-employee director, of Personalis, as an inducement material to such individual’s entering into employment with Personalis, pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules. Personalis is making this announcement as required by Nasdaq rules.
All of the inducement stock options were granted on January 15, 2024 and have an exercise price of $1.74 per share, which is equal to the closing price of Personalis’ common stock on January 12, 2024, the last date preceding the grant date for which a closing price exists. The inducement stock options vest over four years, with 25% of the shares vesting on the first anniversary of the grant date and 1/36th of the remaining shares vesting monthly thereafter, subject to continued service through each applicable vesting date. The foregoing inducement awards are subject to the terms and conditions of Personalis’ 2020 Inducement Plan, and the terms and conditions of the applicable award agreement covering each grant.
About Personalis, Inc.
At Personalis, we are transforming the active management of cancer through breakthrough personalized testing. We aim to drive a new paradigm for cancer management, guiding care from biopsy through the life of the patient. Our highly sensitive assays combine tumor-and-normal profiling with proprietary algorithms to deliver advanced insights even as cancer evolves over time. Our products are designed to detect MRD and recurrence at the earliest timepoints, enable selection of targeted therapies based on ultra-comprehensive genomic profiling, and enhance biomarker strategy for drug development. Personalis is based in Fremont, California. To learn more, visit www.personalis.com and connect with us on LinkedIn and X (Twitter).
How many shares of common stock were granted to new employees?
29,000 shares of common stock were granted to eight new employees.
When were the inducement stock options granted?
The inducement stock options were granted on January 15, 2024.
What is the exercise price of the stock options?
The exercise price of the stock options is $1.74 per share.
How do the stock options vest?
The stock options vest over four years, with 25% of the shares vesting on the first anniversary of the grant date and 1/36th of the remaining shares vesting monthly thereafter.
