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

Rhea-AI Summary

Protara Therapeutics (Nasdaq: TARA) announced the grant of inducement stock options for 3,700 shares to a new employee, with an exercise price of $28.20, matching the closing price on July 1, 2020. The options will vest over four years, with 25% vesting after one year and the remainder monthly thereafter, contingent on continued employment. This move aligns with NASDAQ Listing Rule 5635(c)(4) and indicates Protara's commitment to attracting talent essential for advancing its clinical programs aimed at treating rare diseases.

Positive

• Inducement stock options granted to attract and retain talent.
• Stock options align with Protara's strategic growth in rare disease therapies.

Negative

• None.

NEW YORK, July 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 3,700 shares of common stock to one new employee.

Each stock option has an exercise price per share equal to $28.20 per share, Protara’s closing trading price on July 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 recent stock options were granted by Protara Therapeutics (TARA)?

Protara Therapeutics granted inducement stock options for 3,700 shares at an exercise price of $28.20.

How will the stock options for TARA vest?

The stock options will vest over four years, with 25% vesting after the first year and the rest monthly over 36 months.

Why were the stock options granted to the new employee at Protara?

The stock options were granted as an inducement material to the employee's employment, in line with NASDAQ rules.