Pulse Biosciences Grants Equity Incentive Awards to New Employees
HAYWARD, Calif.--(BUSINESS WIRE)--Nov 18, 2019--
Pulse Biosciences, Inc. (Nasdaq: PLSE) (“Pulse Biosciences” or the “Company”), 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 11,000 shares of Pulse Biosciences common stock to two recently hired non-executive employees on November 15, 2019 and 207,684 shares of Pulse Biosciences common stock to Sandra Gardiner, Chief Financial Officer and Executive Vice President of Finance and Administration, on November 18, 2019. These options were granted under the Pulse Biosciences 2017 Inducement Equity Incentive Plan.
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 are subject to the terms and conditions of the 2017 Inducement Equity Incentive Plan and the award agreements entered into with each recipient. All options are subject to the recipient’s continued employment with Pulse Biosciences through the respective vesting dates.
The non-executive employee options have an exercise price of $14.09 per share, which is equal to the closing price of Pulse Biosciences common stock on November 15, 2019. The 11,000 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.
The options for Sandra Gardiner, Chief Financial Officer and Executive Vice President of Finance and Administration, have an exercise price of $13.94 per share, which is equal to the closing price of Pulse Biosciences common stock on November 18, 2019. The 103,842 of the 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. The other 103,842 shares underlying the option grants will vest and become exercisable based on the achievement of performance objectives, with vesting targets set no less than 25% of the shares vesting per year upon achievement of such objectives, established by the Compensation Committee.
About Pulse Biosciences
Pulse Biosciences is a novel bioelectric medicine company committed to health innovation that improves and potentially extends the lives of patients. The CellFX System is the first planned commercial product to harness the distinctive advantages of the Company’s proprietary Nano-Pulse Stimulation™ (NPS™) technology to treat a variety of applications for which an optimal solution remains unfulfilled. NPS technology delivers nano-second pulses of electrical energy to non-thermally clear cells while sparing adjacent non-cellular tissue. The cell-specific effects of NPS technology have been validated in a series of ongoing clinical trials. The CellFX System is preparing to launch in 2019 as a multi-application platform designed to address a broad range of dermatologic conditions. As part of the customer experience, the Company is offering a utilization-based revenue model and easy-access customer portal offering a suite of services. CellFX procedures offer customer value across an expanding spectrum of clinical applications. The initial commercial use will be in the clearance of common and difficult-to-treat skin lesions that share high demand among patients and practitioners for improved and durable aesthetic outcomes that lead to greater overall satisfaction.
Caution: Pulse Biosciences’ CellFX System and Nano-Pulse Stimulation (NPS) technology are for investigational use only.
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CONTACT: Investor Relations:
Pulse Biosciences, Inc.
Sr. Vice President and Chief Financial Officer
Gitanjali Jain Ogawa, 646-378-2949
Nadine D. Tosk, 504-453-8344
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: BIOTECHNOLOGY PHARMACEUTICAL HEALTH MEDICAL DEVICES
SOURCE: Pulse Biosciences, Inc.
Copyright Business Wire 2019.
PUB: 11/18/2019 08:32 PM/DISC: 11/18/2019 08:32 PM