Plus Therapeutics Announces New Employment Inducement Grants
Plus Therapeutics announced on May 17, 2024, that it has granted option awards to Charles Huang, their new Director of Capital Markets and Investor Relations. The awards, given on May 8, 2024, include options to purchase up to 5,000 shares of Plus Therapeutics' common stock. These options will vest over four years, with one-fourth vesting after the first year and the remainder vesting monthly. The exercise price is set at the closing price on the grant date, May 8, 2024. This initiative aims to align the interests of Mr. Huang with the company’s shareholders. These awards were granted outside the 2020 Incentive Plan but follow similar terms.
- Granting of 5,000 stock options to a key new hire for alignment with shareholder interests.
- Options vest over four years, encouraging long-term commitment from the new Director.
- Exercise price set at market value ensures fair alignment with current stock performance.
- Form S-8 filed, ensuring regulatory compliance and transparency.
- Equity awards granted outside of the 2020 Incentive Plan could raise concerns about governance.
- No immediate financial impact or revenue-related news from the PR.
- Stock options vesting over a long period may result in delayed motivation impact.
AUSTIN, Texas, May 17, 2024 (GLOBE NEWSWIRE) -- Plus Therapeutics, Inc. (Nasdaq: PSTV) (the “Company”), a clinical-stage pharmaceutical company developing targeted radiotherapeutics with advanced platform technologies for central nervous system (CNS) cancers, today announced that on May 8, 2024, it granted option awards to Charles Huang, the Company’s new Director of Capital Markets and Investor Relations. The Company agreed to grant these equity awards to Mr. Huang to induce him to commence employment with the Company.
The approved option awards are options to purchase up to 5,000 shares of the common stock of the Company. The options are scheduled to vest over four years, with one-fourth of the options vesting on the first anniversary of the grant date with the remaining options vesting thereafter in equal monthly installments. The vesting of the options is also subject to certain requirements, including Mr. Huang’s continued service as an employee of the Company through the applicable vesting dates. The exercise price of the options is equal to the closing price of the Company’s common stock on May 8, 2024, the grant date.
The Company believes that these equity grants create a strong alignment of interests between Mr. Huang and Company shareholders. The equity awards were granted outside of the Company’s 2020 Incentive Plan but generally have terms and conditions consistent with those set forth in that plan. The Company has filed a Form S-8 covering these equity awards.
About Plus Therapeutics
Plus Therapeutics, Inc. is a clinical-stage pharmaceutical company developing targeted radiotherapeutics for difficult-to-treat cancers of the central nervous system with the potential to enhance clinical outcomes for patients. Combining image-guided local beta radiation and targeted drug delivery approaches, the Company is advancing a pipeline of product candidates with lead programs in recurrent glioblastoma (GBM) and leptomeningeal metastases (LM). The Company has built a supply chain through strategic partnerships that enable the development, manufacturing, and future potential commercialization of its products. Plus Therapeutics is led by an experienced and dedicated leadership team and has operations in key cancer clinical development hubs including Austin and San Antonio, Texas. For more information, visit https://plustherapeutics.com/.
Investor Contact
Charles Huang
Director, Capital Markets and Investor Relations
(202) 209 5751
chuang@plustherapeutics.com
FAQ
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