T2 Biosystems Reports Granting of Inducement Award
T2 Biosystems (NASDAQ:TTOO) announced the issuance of an inducement award to Dr. Aparna Ahuja, the new Chief Medical Officer, on January 5, 2021. The award consists of restricted stock units (RSUs) covering 460,992 shares of common stock, vesting over three years, contingent on Dr. Ahuja's continued service. This grant aligns with Nasdaq Marketplace Rule 5635(c)(4) and is part of the company's Inducement Award Plan established in 2018. T2 Biosystems aims to enhance patient care through rapid pathogen detection technologies.
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LEXINGTON, Mass., Jan. 29, 2021 (GLOBE NEWSWIRE) -- T2 Biosystems, Inc. (NASDAQ:TTOO), a global leader in the rapid detection of sepsis-causing pathogens, announced today that it issued an inducement award to Dr. Aparna Ahuja, the Company’s recently appointed Chief Medical Officer, in accordance with the terms of Dr. Ahuja’s employment offer letter.
The award was made on January 5, 2021 under T2 Biosystems’ Inducement Award Plan (the "Inducement Plan"), which was adopted March 1, 2018 (as amended to date) and provides for the granting of equity awards to new employees of T2 Biosystems. The inducement award consists of restricted stock units (“RSUs”) covering 460,992 shares of the Company’s common stock. Subject to Dr. Ahuja’s continued service to the Company, one third of the RSUs shall vest on each of the first two anniversaries of the grant date and the remainder shall vest on the third anniversary of the grant date. The award is subject to the terms and conditions of the Inducement Plan and the terms and conditions of an applicable award agreement covering the grant. The award was approved by the T2 Biosystems’ board of directors and was granted as an inducement material to the new employee entering into employment with T2 Biosystems in accordance with Nasdaq Marketplace Rule 5635(c)(4).
About T2 Biosystems:
T2 Biosystems, a leader in the rapid detection of sepsis-causing pathogens, is dedicated to improving patient care and reducing the cost of care by helping clinicians effectively treat patients faster than ever before. T2 Biosystems’ products include the T2Dx® Instrument, T2Candida® Panel, the T2Bacteria® Panel, the T2ResistanceTM Panel, and the T2SARS-CoV-2™ Panel and are powered by the proprietary T2 Magnetic Resonance (T2MR®) technology. T2 Biosystems has an active pipeline of future products, including the T2CaurisTM Panel, and T2Lyme TM Panel, as well as additional products for the detection of bacterial and fungal pathogens and associated antimicrobial resistance markers, and biothreat pathogens.
Media Contact:
Gina Kent, Vault Communications
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610-455-2763
Investor Contact:
Philip Trip Taylor, Gilmartin Group
philip@gilmartinIR.com
415-937-5406
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