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Quotient Limited Announces Equity Awards

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Quotient Limited (NASDAQ:QTNT) announced the appointment of Steven Zuiderwijk as Chief Strategy & Business Development Officer, effective July 1, 2022. The Company granted him 112,780 performance-based restricted share units, 67,668 restricted share units, and options for 45,112 ordinary shares as part of the inducement to join. The performance-based units will vest after achieving specific financial targets, while the others will vest in equal installments over three years. Quotient focuses on innovative transfusion diagnostics solutions, including the MosaiQ platform aimed at improving clinical practices.

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  • Appointment of Steven Zuiderwijk as Chief Strategy & Business Development Officer, indicating organizational growth.
  • Significant equity awards indicate confidence in Zuiderwijk's potential impact on achieving financial targets.
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  • None.

JERSEY, Channel Islands, July 01, 2022 (GLOBE NEWSWIRE) -- Quotient Limited (NASDAQ:QTNT), a commercial-stage diagnostics company (the Company), today announced the scheduled grant of equity awards to Mr. Steven Zuiderwijk, who has been appointed as the Chief Strategy & Business Development Officer of the Company effective July 1, 2022.

In connection with his appointment, the Company granted Mr. Zuiderwijk 112,780 performance-based restricted share units (PSUs) (the Sign-On PSUs), 67,668 Restricted Share Units (RSUs) (the Sign-On RSUs) and share options to purchase 45,112 of the Company's ordinary shares (the Sign-On Options). Such grants were issued outside of the Company’s 2014 Stock Incentive Plan and were approved by the Company’s Board of Directors and the Remuneration Committee of the Board of Directors pursuant to the inducement grant exception under the Nasdaq Rule 563(c)(4), as an inducement that is material to Mr. Zuiderwijk joining the Company as the Chief Strategy & Business Development Officer.

The Sign-On PSUs will vest on the third anniversary of the grant date, provided specific performance criteria have been met. These performance criteria include the Company achieving certain financial targets. The Sign-On RSUs and Sign-On Options each will vest in three equal instalments on each of the first, second and third anniversaries of the grant date. The vesting of the awards will be subject to Mr. Zuiderwijk continued service with the Company on each applicable vesting date.

About Quotient Limited

Building on over 30 years of experience in transfusion diagnostics, Quotient is a commercial-stage diagnostics company committed to delivering solutions that reshape the way diagnostics is practiced. The MosaiQ solution, Quotient’s proprietary multiplex microarray technology, offers the world’s first fully automated, consolidated testing platform, allowing for multiple tests across different modalities. The MosaiQ solution is designed to be a game-changing solution, which Quotient believes will increase efficiencies, improve clinical practice, and deliver significant workflow improvements and operational cost savings to laboratories around the world. Quotient’s operations are based in Switzerland, Scotland, US and the UAE.

The Quotient logo, Quotient MosaiQ and MosaiQ are registered trademarks or trademarks of Quotient Limited and its subsidiaries in various jurisdictions.

CONTACT: IR@quotientbd.com; +41 22 545 52 26


FAQ

What equity awards were granted to Steven Zuiderwijk at Quotient Limited?

Steven Zuiderwijk received 112,780 performance-based restricted share units, 67,668 restricted share units, and options for 45,112 ordinary shares.

What is the vesting schedule for the equity awards granted to Steven Zuiderwijk?

The performance-based units vest after achieving certain financial targets, while the restricted share units and options vest in three equal installments over three years.

When did Steven Zuiderwijk join Quotient Limited?

Steven Zuiderwijk officially joined Quotient Limited on July 1, 2022.

What is the significance of the equity awards given to Steven Zuiderwijk?

The equity awards are intended as an inducement for Zuiderwijk's appointment, reflecting the Company's expectation for his contribution to achieving financial goals.

What technology does Quotient Limited specialize in?

Quotient Limited specializes in transfusion diagnostics, particularly the MosaiQ solution, which offers a fully automated testing platform.

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