Pulse Biosciences Grants Equity Incentive Awards to New Employees
Pulse Biosciences, Inc., a novel bioelectric medicine company bringing to market its proprietary CellFX™ System, announced today that the Compensation Committee of the Company’s Board of Directors granted non-qualified stock options covering an aggregate of 23,750 shares of Pulse Biosciences common stock to three recently hired non-executive employees under the Pulse Biosciences 2017 Inducement Equity Incentive Plan on October 15, 2019.
The 2017 Inducement Equity Incentive Plan is used exclusively to grant equity awards to individuals who were not previously an employee or non-employee director of Pulse Biosciences as an inducement material to such individual’s entering into employment with Pulse Biosciences in accordance with Nasdaq Marketplace Rule 5635(c)(4).
The options have an exercise price of $14.165 per share, which is equal to the closing price of Pulse Biosciences common stock. The 23,750 shares underlying the option grants will vest and become exercisable as to 25% of the shares annually beginning on the first anniversary of the recipient’s start date, subject to the recipient’s continued employment with Pulse Biosciences on these vesting dates. The options are subject to the terms and conditions of the 2017 Inducement Equity Incentive Plan and the award agreements entered into with each recipient.
