JERSEY, Channel Islands, Jan. 08, 2020 (GLOBE NEWSWIRE) -- Quotient Limited (NASDAQ:QTNT), a commercial-stage diagnostics company, today announced the planned appointment of Peter Buhler as Chief Financial Officer (CFO), effective as of February 5, 2020. In connection with the planned appointment, on February 5, 2020, Quotient will grant Mr. Buhler 50,000 restricted share units and 25,000 options to purchase Quotient's ordinary shares. The grants, which will be issued outside of Quotient's 2014 Stock Incentive Plan, were approved by Quotient's Board of Directors and the Remuneration Committee of the Board of Directors pursuant to the inducement grant exception under Nasdaq Rule 5635(c)(4), as an inducement that is material to Mr. Buhler's entering into employment with Quotient.
The share options will have a per share exercise price equal to the closing sales price of Quotient's ordinary shares on the Nasdaq Global Market on the grant date. The restricted share units and the share options will vest in three equal installments on the first, second and third anniversaries of the grant date, subject to Mr. Buhler's continued service with Quotient through each vesting date.
About Quotient Limited
Building on 30 years of experience in transfusion diagnostics, Quotient is a commercial-stage diagnostics company committed to delivering solutions that reshape the way diagnostics is practiced. MosaiQ, Quotient’s proprietary multiplex microarray technology, offers the world’s first fully automated, consolidated testing platform, allowing for multiple tests across different modalities. MosaiQ is designed to be a game-changing solution, which Quotient believes will increase efficiencies, improve clinical practice, deliver significant workflow improvements, and operational cost savings to laboratories around the world. Quotient's operations are based in Eysins, Switzerland, Edinburgh, Scotland and Newtown, Pennsylvania.
The Quotient logo and MosaiQ™ are registered trademarks or trademarks of Quotient Limited and its subsidiaries in various jurisdictions.