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

Rhea-AI Summary

Talis Biomedical Corporation (TLIS) has granted an inducement award to its new CEO, Brian Blaser, as part of the company's 2021 Inducement Plan, complying with Nasdaq rules. The award consists of stock options for 638,144 shares and restricted stock units for 625,000 shares of common stock. Both awards will vest over five years, with an initial 20% vesting after one year. Talis focuses on improving health equity through accurate infectious disease testing, having received Emergency Use Authorization from the FDA for its Talis One COVID-19 Test System.

Positive

• Inducement award includes stock options for 638,144 shares and RSUs for 625,000 shares.
• The vesting schedule incentivizes long-term commitment from the new CEO.

Negative

• None.

MENLO PARK, Calif., Dec. 02, 2021 (GLOBE NEWSWIRE) -- Talis Biomedical Corporation (Nasdaq: TLIS), a company dedicated to advancing health equity and outcomes through the delivery of accurate infectious disease testing in the moment of need, at the point of care (the “Company”), announced that the Company’s Board of Directors has granted an inducement award to Brian Blaser, the Company’s newly appointed Chief Executive Officer. The inducement award was granted pursuant to the Company’s 2021 Inducement Plan (the “Inducement Plan”) as an inducement material to Mr. Blaser entering into employment with the Company, in accordance with Nasdaq Listing Rule 5635(c)(4).

The inducement award is comprised of (i) a stock option award covering 638,144 shares of the Company’s common stock with per share exercise price equal to the fair market value of the Company’s common stock on the grant date and will be subject to vesting over five years, with 20% of the shares vesting on the one year anniversary of Mr. Blaser’s start date, and the remainder vesting monthly over the following forty-eight (48) months, subject to his continued employment and the terms and conditions of the stock option agreement, and (ii) a restricted stock unit award covering 625,000 shares of the Company’s common stock and will be subject to vesting over five years, with 20% of the shares vesting on the one year anniversary of Mr. Blaser’s start date, and the remainder vesting in a series of four equal successive annual installments on the second, third, fourth and fifth anniversaries of his start date, subject to his continued employment and the terms and conditions of the restricted stock unit award agreement.

About Talis Biomedical
Talis is dedicated to advancing health equity and outcomes through the delivery of accurate infectious disease testing in the moment of need, at the point of care. The company plans to develop and commercialize innovative products on its sample-to-answer Talis One system to enable accurate, low cost, and rapid molecular testing. The U.S. Food and Drug Administration (FDA) has granted Emergency Use Authorization (EUA) for use of the Talis One COVID-19 Test System in a variety of healthcare settings. For more information, visit talisbio.com.

Contact
Media & Investors
Emily Faucette
efaucette@talisbio.com 
415-595-9407

FAQ

What is the significance of the inducement award for TLIS?

The inducement award is a key part of Talis Biomedical's strategy to attract and retain executive talent, specifically CEO Brian Blaser, which could enhance company leadership.

How does the stock option award for TLIS work?

The stock option award grants Brian Blaser 638,144 shares, with 20% vesting after one year and the remainder vesting monthly over four years, incentivizing his continued employment.

What is Talis Biomedical's focus?

Talis Biomedical is dedicated to improving health equity by developing accurate infectious disease testing solutions, particularly through the Talis One system.

What FDA approval has Talis Biomedical received?

The company has received Emergency Use Authorization for its Talis One COVID-19 Test System, allowing it to be used in various healthcare settings.