Nabriva Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
DUBLIN, Ireland, Oct. 01, 2019 (GLOBE NEWSWIRE) -- Nabriva Therapeutics plc (NASDAQ: NBRV), a biopharmaceutical company engaged in the commercialization and development of innovative anti-infective agents to treat serious infections, today announced that it has granted non-statutory stock options to purchase an aggregate of 51,750 ordinary shares of Nabriva Therapeutics as inducements to 8 newly-hired employees. The awards were made pursuant to the Nasdaq inducement grant exception as a component of the new hires’ employment compensation.
The stock options were granted effective September 30, 2019 with an exercise price of $2.00 per share, which is equal to the closing price of Nabriva Therapeutics’s ordinary shares on the date of grant. Each stock option granted has a 10-year term and vests over four years, with 25% of the original number of shares vesting on the first anniversary of the grant date and 2.08% of the original number of shares vesting at the end of each subsequent monthly period thereafter until fully vested, subject to the employee's continued service with the Company through the applicable vesting dates. The stock option awards were approved by Nabriva Therapeutics’ Compensation Committee and were granted as an inducement material to each employee’s acceptance of employment in accordance with Nasdaq Listing Rule 5635(c)(4). Each of the stock options is subject to the terms and conditions of a stock option agreement covering the grant and Nabriva Therapeutics’ 2019 Inducement Share Incentive Plan.
About Nabriva Therapeutics plc
Nabriva Therapeutics is a biopharmaceutical company engaged in the commercialization and development of innovative anti-infective agents to treat serious infections. Nabriva Therapeutics received U.S. Food and Drug Administration approval for XENLETA (lefamulin), the first systemic pleuromutilin antibiotic for community-acquired bacterial pneumonia (CABP). Nabriva Therapeutics is also developing ContepoTM (fosfomycin) for injection, a potential first-in-class epoxide antibiotic for complicated urinary tract infections (cUTI), including acute pyelonephritis. For more information, please visit https://www.nabriva.com.
Nabriva Therapeutics plc
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