TUCSON, Ariz., Nov. 15, 2021 (GLOBE NEWSWIRE) -- HTG Molecular Diagnostics, Inc. (Nasdaq: HTGM) (HTG), a life science company advancing precision medicine through its innovative transcriptome-wide profiling technology, today announced that, on November 9, 2021 the Compensation Committee of the HTG Board of Directors granted inducement stock option awards to purchase an aggregate of 80,000 shares of common stock and 30,000 restricted stock unit awards (RSUs) to two employees who have recently joined HTG.
The stock option awards have exercise prices of $5.20 per share, reflecting HTG’s closing trading price on the grant date. The inducement stock option awards vest over approximately four years, with 1/4th of the shares vesting on the one-year anniversary of the applicable vesting commencement date and the balance of the shares vesting in a series of 12 successive, equal quarterly installments on the last day of each calendar quarter, commencing with the last day of the calendar quarter first occurring after the one-year anniversary of the applicable vesting commencement date, subject to the new employee's continued service relationship with HTG through the applicable vesting dates. Each stock option has a 10-year term and is subject to the terms and conditions of HTG’s 2021 Inducement Plan, adopted by HTG’s Board of Directors on July 1, 2021, as amended, and its standard form of agreement for inducement grants of nonstatutory stock options.
The RSUs vest in eight successive equal quarterly installments on the last day of each calendar quarter, commencing with the last day of the first calendar quarter that begins after the grant date, subject to the new employee’s continued service relationship with HTG through the applicable vesting dates. Each award has a 10-year term and is subject to the terms and conditions of HTG’s 2021 Inducement Plan and its standard form of agreement for inducement grants of restricted stock units.
The stock options and RSUs were granted as inducements material to the new employees entering into employment with HTG in accordance with Nasdaq Listing Rule 5635(c)(4).
About HTG:
HTG is accelerating precision medicine from diagnosis to treatment by harnessing the power of transcriptome-wide profiling to drive translational research, clinical diagnostics and targeted therapeutics across a variety of disease areas.
Building on more than a decade of pioneering innovation and partnerships with biopharma leaders and major academic institutes, HTG’s proprietary RNA platform technologies are designed to make the development of life science tools and diagnostics more effective and efficient and to unlock a differentiated and disruptive approach to transformative drug discovery. For more information visit www.htgmolecular.com.
Contact:
Ashley Robinson
Phone: (617) 430-7577
Email: arr@lifesciadvisors.com
