Nabriva Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
DUBLIN, Ireland, Aug. 03, 2021 (GLOBE NEWSWIRE) -- Nabriva Therapeutics plc (NASDAQ: NBRV), a biopharmaceutical company engaged in the commercialization and development of innovative anti-infective agents to treat serious infections, today announced that it has granted non-statutory stock options to purchase an aggregate of 10,500 ordinary shares of Nabriva Therapeutics as an inducement to three newly-hired employees. These grants were awarded pursuant to the Nasdaq inducement grant exception as a component of new hire employment compensation.
The stock options were granted effective July 30, 2021 with an exercise price of $1.10 per share, which is equal to the closing price of Nabriva Therapeutics’s ordinary shares on the date of grant. Each stock option granted has a 10-year term and vests over four years, with 25% of the original number of shares vesting on the annual anniversary of the grant date until fully vested, subject to the employee's continued service with the Company through the applicable vesting dates. The stock option awards were approved by Nabriva Therapeutics’Compensation Committee and were granted as an inducement material to each employee’s acceptance of employment in accordance with Nasdaq Listing Rule 5635(c)(4). Each of the stock options is subject to the terms and conditions of a stock option agreement covering the grant and Nabriva Therapeutics’ 2021 Inducement Share Incentive Plan.
About Nabriva Therapeutics plc
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