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Twist Bioscience Corporation Announces Inducement Grants under NASDAQ Listing Rule 5635(c)(4)

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Twist Bioscience (NASDAQ: TWST) has announced new equity awards as employment inducements under Nasdaq Rule 5635(c)(4). The company granted 110,300 restricted stock units (RSUs) to 43 new employees and up to 37,500 performance stock units (PSUs) to VP Colby Souders. The RSUs vest over 48 months, with 25% vesting after one year and 1/16 vesting quarterly thereafter. The PSUs vest based on performance metrics for FY2024-2026, with potential earnings of 80%-150% of target, subject to continued employment.

Twist Bioscience (NASDAQ: TWST) ha annunciato nuovi premi azionari come incentivo all'assunzione ai sensi della Regola 5635(c)(4) di Nasdaq. L'azienda ha assegnato 110.300 unità azionarie vincolate (RSU) a 43 nuovi dipendenti e fino a 37.500 unità azionarie legate alle performance (PSU) al VP Colby Souders. Le RSU maturano in un periodo di 48 mesi, con il 25% che matura dopo un anno e 1/16 trimestralmente successivamente. Le PSU maturano in base a parametri di performance per l'anno fiscale 2024-2026, con potenziali guadagni del 80%-150% dell'obiettivo, a condizione di un'occupazione continua.

Twist Bioscience (NASDAQ: TWST) ha anunciado nuevos premios de acciones como incentivos para el empleo según la Regla 5635(c)(4) de Nasdaq. La compañía otorgó 110,300 unidades de acciones restringidas (RSU) a 43 nuevos empleados y hasta 37,500 unidades de acciones de rendimiento (PSU) al VP Colby Souders. Las RSU se consolidan en un período de 48 meses, con el 25% consolidándose después de un año y 1/16 trimestralmente después. Las PSU se consolidan en función de métricas de desempeño para el año fiscal 2024-2026, con ganancias potenciales del 80%-150% del objetivo, sujeto a empleo continuo.

트위스트 바이오사이언스 (NASDAQ: TWST)는 나스닥 규칙 5635(c)(4)에 따라 고용 유인을 위한 새로운 주식 보상을 발표했습니다. 회사는 43명의 신규 직원에게 110,300개의 제한 주식 단위(RSU)를 부여하고, 부사장인 콜비 사우더스에게 37,500개의 성과 주식 단위(PSU)를 최대 부여했습니다. RSU는 48개월 동안 분할 지급되며, 1년 후 25%가 지급되고 그 이후로는 매 분기 1/16이 지급됩니다. PSU는 2024-2026 회계연도 동안의 성과 기준에 따라 지급되며, 목표의 80%-150%에 해당하는 잠재적 수익이 있으며, 지속적인 고용 조건이 있습니다.

Twist Bioscience (NASDAQ: TWST) a annoncé de nouvelles allocations d'actions comme incitations à l'emploi en vertu de la règle 5635(c)(4) de Nasdaq. L'entreprise a accordé 110 300 unités d'actions restreintes (RSU) à 43 nouveaux employés et jusqu'à 37 500 unités d'actions de performance (PSU) au VP Colby Souders. Les RSU se libèrent sur une période de 48 mois, avec 25 % se libérant après un an et 1/16 se libérant trimestriellement par la suite. Les PSU se libèrent en fonction des critères de performance pour l'exercice 2024-2026, avec des gains potentiels de 80 % à 150 % de l'objectif, sous réserve d'un emploi continu.

Twist Bioscience (NASDAQ: TWST) hat neue Aktienvergütungen als Anreiz für Einstellungen gemäß der Nasdaq-Regel 5635(c)(4) angekündigt. Das Unternehmen hat 110.300 Restricted Stock Units (RSUs) an 43 neue Mitarbeiter und bis zu 37.500 Performance Stock Units (PSUs) an VP Colby Souders vergeben. Die RSUs werden über einen Zeitraum von 48 Monaten fällig, wobei 25 % nach einem Jahr und danach vierteljährlich 1/16 fällig werden. Die PSUs werden basierend auf Leistungskennzahlen für das Geschäftsjahr 2024-2026 fällig, mit potenziellen Erträgen von 80%-150% des Ziels, vorbehaltlich einer fortgesetzten Beschäftigung.

Positive
  • Successful recruitment of 44 new employees including a VP, indicating company growth
  • Structured compensation plan with performance incentives (PSUs) tied to company goals
Negative
  • Potential shareholder dilution from issuance of new equity awards

Insights

The equity grants, while routine for new hires, represent a notable compensation structure with 147,800 total equity awards. The 110,300 RSUs follow a standard 4-year vesting schedule with a one-year cliff, aligning with industry practices for retention. The performance-based component for the VP position, with 37,500 PSUs tied to 2024-2026 metrics and potential upside of 150%, indicates aggressive growth targets. This compensation structure suggests Twist is investing in talent acquisition while maintaining performance accountability, particularly in strategic roles. The variable component range of 80-150% provides meaningful upside potential while protecting against underperformance.

SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)-- As required by the rules of the Nasdaq Stock Market, Twist Bioscience Corporation (NASDAQ: TWST) (“Twist” or the “Company”), a company enabling customers to succeed through its offering of high-quality synthetic DNA using its silicon platform, today announced that it has granted a total of 147,800 equity awards, consisting of 110,300 restricted stock units (“RSUs”) to 43 recently hired individuals and an individually negotiated award of up to 37,500 performance stock units (“PSUs”) to Colby Souders, a recently hired VP, in each case as an inducement material to their acceptance of employment with Twist. The employment inducement awards were granted under Twist’s Inducement Equity Incentive Plan and related form of restricted stock award agreement in accordance with Nasdaq Listing Rule 5635(c)(4).

The inducement plan is used exclusively for the grant of equity awards to individuals who were not previously employees of Twist, or following a bona fide period of non-employment, as an inducement material to such individuals entering into employment with Twist, pursuant to Nasdaq Listing Rule 5635(c)(4).

The 110,300 RSUs vest over a 48-month period for each employee as follows: 25% vests on the one year anniversary of the start date of the employee (the “Vesting Commencement Date”), and 1/16 of the RSUs vest on each quarterly anniversary (or the last day of the month if no such day exists) of the Vesting Commencement Date thereafter, subject to the employee’s continued service through each vesting date. The up to 37,500 PSUs vest on achievement of certain performance metrics set by the Company’s Compensation Committee for the second half of fiscal year 2024 through fiscal year 2026 (which can be earned at 80%-150% of 100% target), subject, in each case, to his continued service through the applicable vesting dates.

About Twist Bioscience Corporation

Twist Bioscience is a leading and rapidly growing synthetic biology and genomics company that has developed a disruptive DNA synthesis platform to industrialize the engineering of biology. The core of the platform is a proprietary technology that pioneers a new method of manufacturing synthetic DNA by “writing” DNA on a silicon chip. Twist is leveraging its unique technology to manufacture a broad range of synthetic DNA-based products, including synthetic genes, tools for next-generation sequencing (NGS) preparation, and antibody libraries for drug discovery and development. Twist is also pursuing longer-term opportunities in digital data storage in DNA and biologics drug discovery. Twist makes products for use across many industries including healthcare, industrial chemicals, agriculture and academic research.

For Investors:

Angela Bitting

SVP, Corporate Affairs

925-202-6211

abitting@twistbioscience.com

For Media:

Amanda Houlihan

Communications Manager

774-265-5334

ahoulihan@twistbioscience.com

Source: Twist Bioscience Corporation

FAQ

How many RSUs did Twist Bioscience (TWST) grant in their latest inducement awards?

Twist Bioscience granted 110,300 restricted stock units (RSUs) to 43 new employees.

What is the vesting schedule for Twist Bioscience's (TWST) new RSU grants?

The RSUs vest over 48 months, with 25% vesting after one year and 1/16 vesting quarterly thereafter.

How many PSUs did Twist Bioscience (TWST) grant to Colby Souders?

Twist Bioscience granted up to 37,500 performance stock units (PSUs) to Colby Souders, with potential earnings of 80%-150% based on performance metrics.

Twist Bioscience Corporation

NASDAQ:TWST

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2.70B
58.59M
1.65%
109.17%
15.07%
Diagnostics & Research
Biological Products, (no Disgnostic Substances)
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United States of America
SOUTH SAN FRANCISCO