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Personalis Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
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Personalis, Inc. (PSNL) granted non-qualified stock options to purchase 41,500 shares to ten new employees under its 2020 Inducement Plan. The options were granted on November 15, 2023, and March 15, 2024, with exercise prices of $1.11 and $1.61 per share, respectively. The options vest over four years, with 25% vesting on the first anniversary and the rest monthly, contingent on continued service.
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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, on November 15, 2023 and March 15, 2024, non-qualified stock options to purchase an aggregate of 41,500 shares of its common stock to ten 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.
The inducement stock options granted on November 15, 2023 have an exercise price of $1.11 per share, which is equal to the closing price of Personalis’ common stock on the grant date. The inducement stock options granted on March 15, 2024 have an exercise price of $1.61 per share, which is equal to the closing price of Personalis’ common stock on the grant date. All of 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 minimal residual disease (MRD) and recurrence at the earliest timepoints, enable the 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 were granted to new employees by Personalis, Inc. (PSNL) under its 2020 Inducement Plan?
Personalis, Inc. (PSNL) granted 41,500 shares to ten new employees under its 2020 Inducement Plan.
What were the exercise prices of the stock options granted by Personalis, Inc. (PSNL) on November 15, 2023, and March 15, 2024?
The stock options granted on November 15, 2023, had an exercise price of $1.11 per share, while those granted on March 15, 2024, had an exercise price of $1.61 per share.
How do the stock options granted by Personalis, Inc. (PSNL) vest?
The stock options granted by Personalis, Inc. (PSNL) vest over four years, with 25% of the shares vesting on the first anniversary of the grant date and the rest vesting monthly thereafter, subject to continued service.
