Protara Therapeutics, Inc. Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Protara Therapeutics (Nasdaq: TARA) announced the granting of 27,500 inducement stock options to two new employees, priced at $20.51 per share, the closing price on September 1, 2020. The options will vest over four years, with 25% vesting after one year and the remainder vesting monthly thereafter. This approval aligns with NASDAQ Listing Rule 5635(c)(4). Protara focuses on developing treatments for rare diseases, including its lead program TARA-002 for lymphatic malformations and IV Choline Chloride for IFALD.

Positive

• Grant of 27,500 stock options can enhance employee retention and motivation.
• Stock options priced at $20.51 align with market price, indicating fair compensation.

Negative

• None.

NEW YORK, Sept. 02, 2020 (GLOBE NEWSWIRE) -- Protara Therapeutics, Inc. (Nasdaq: TARA), a development-stage clinical biopharmaceutical company developing treatments for rare and specialty diseases with significant unmet needs, today announced the grants of inducement non-qualified stock options to purchase an aggregate of 27,500 shares of common stock to two new employees.

Each stock option has an exercise price per share equal to $20.51 per share, Protara’s closing trading price on September 1, 2020, the grant date, and will vest over four years, with 25% of the underlying shares vesting on the one-year anniversary of the individual’s start date and 1/36th of the underlying shares vesting monthly thereafter over 36 months subject to the new employee's continued service relationship with Protara through the applicable vesting dates.

The Compensation Committee of Protara’s Board of Directors approved the awards as an inducement material to the new employees’ employment in accordance with NASDAQ Listing Rule 5635(c)(4).

About Protara Therapeutics, Inc.

Protara is committed to identifying and advancing transformative therapies for people with rare and specialty diseases who have limited treatment options. Protara’s portfolio includes its lead program, TARA-002, an investigational cell-based therapy being developed for the treatment of lymphatic malformations, and IV Choline Chloride, an investigational phospholipid substrate replacement therapy for the treatment of IFALD. For more information, visit www.protaratx.com

Company Contact:

Blaine Davis
Protara Therapeutics
Blaine.Davis@protaratx.com
646-844-0337

FAQ

What are the details of the stock options granted by Protara Therapeutics (TARA)?

Protara granted 27,500 stock options with an exercise price of $20.51 per share, vesting over four years.

How does the stock option grant affect Protara Therapeutics (TARA)?

The stock option grants can improve employee retention and align their interests with shareholders.

What is the significance of NASDAQ Listing Rule 5635(c)(4) for TARA?

This rule allows companies to grant inducement awards as part of new employee compensation.