Freeline Announces July 2022 Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
LONDON, Aug. 04, 2022 (GLOBE NEWSWIRE) -- Freeline Therapeutics Holdings plc (Nasdaq: FRLN) today announced that on July 29, 2022, the Company granted its newly hired Chief People Officer Nicole Jones and four other newly hired employees non-statutory options to purchase an aggregate of 240,000 and 35,250 of the Company’s ordinary shares, respectively.
The awards were granted as an inducement material to the employees entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4) and were approved by an independent subcommittee of the remuneration committee of Freeline’s board of directors. The awards were granted pursuant to the terms of Freeline’s 2021 Equity Inducement Plan, which was adopted by Freeline’s board of directors in September 2021.
Each of the options has an exercise price of $0.90 per share, which was the closing price of Freeline’s American Depositary Shares reported by Nasdaq on July 28, 2022, the last trading day preceding the grant date. The options have a maximum 10-year term and vestover a four-year service period, with 25% of the award vesting on the first anniversary of the vesting commencement date, with the balance vesting monthly over the remaining three years.
About Freeline Therapeutics
Arne Naeveke, PhD