Personalis Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Personalis, a leader in advanced genomics for precision oncology, announced that its Compensation Committee has granted a non-qualified stock option to purchase 85,000 shares to its new Vice President, Customer Experience.

The grant, made on May 15, 2024, under the 2020 Inducement Plan, is in accordance with Nasdaq Listing Rule 5635(c)(4).

The stock option has an exercise price of $1.43 per share, matching the closing price on the grant date, and vests over four years.

Positive

• Granting of 85,000 stock options shows confidence in the new Vice President, potentially boosting morale and attracting talent.
• Stock option exercise price is set at $1.43 per share, equal to the closing price on the grant date, reflecting market value.

Negative

• Stock option grants can lead to shareholder dilution.
• The vesting period of four years may delay the realization of benefits.

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 May 15, 2024, a non-qualified stock option to purchase an aggregate of 85,000 shares of its common stock to Personalis’ new Vice President, Customer Experience 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 option granted on May 15, 2024 has an exercise price of $1.43 per share, which is equal to the closing price of Personalis’ common stock on the grant date. The inducement stock option vests 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 award is subject to the terms and conditions of Personalis’ 2020 Inducement Plan, and the terms and conditions of the applicable award agreement covering the 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).

View source version on businesswire.com: https://www.businesswire.com/news/home/20240517449525/en/

Investor Relations Contact:

Caroline Corner

investors@personalis.com

415-202-5678

Media:

pr@personalis.com

Source: Personalis, Inc.

FAQ

What did Personalis announce on May 15, 2024?

Personalis announced the granting of a non-qualified stock option to purchase 85,000 shares to its new Vice President, Customer Experience.

What is the exercise price of the Personalis stock option granted?

The exercise price of the Personalis stock option granted is $1.43 per share.

How does the vesting schedule for the Personalis stock option work?

The stock option vests over four years, with 25% vesting on the first anniversary and 1/36th of the remaining shares vesting monthly thereafter.

Under which plan was the Personalis stock option granted?

The stock option was granted under Personalis' 2020 Inducement Plan.

Why did Personalis grant the stock option to the new Vice President?

The stock option was granted as an inducement material to the new Vice President’s employment, in accordance with Nasdaq Listing Rule 5635(c)(4).