1. Forte Biosciences issued 125,000 equity awards to new employees. 2. Awards comply with NASDAQ Listing Rule 5635(c)(4) regulations. 3. Equity options vest over four years, enhancing employee retention. 4. Forte is advancing a proprietary anti-CD122 therapeutic candidate. 5. The company is focused on autoimmune-related disease treatments.
Issuing equity awards typically indicates company growth intentions
Positive steps in employee incentives indicate stability and potential for growth.
Long-term employee retention could positively influence company performance.
Forte Biosciences, Inc. (www.fortebiorx.com) (NASDAQ:FBRX), a clinical-stage biopharmaceutical company focused on autoimmune and autoimmune-related diseases, today announced the issuance of equity inducement awards as required by the Nasdaq Stock Market Rules.
In accordance with NASDAQ Listing Rule 5635(c)(4), the Compensation Committee of Forte's Board of Directors approved the grant of equity awards in the form of options to purchase a total of 125,000 shares of common stock to new non-executive employees as a material inducement to such individuals accepting employment with the Company. The option awards shall vest over four years, with twenty-five percent vesting on the one-year anniversary of the applicable optionee's employment commencement date and the remaining seventy-five percent vesting in approximately equal monthly increments over the succeeding thirty-six months, subject to the individual's continuous employment through each vesting date.
The Inducement Awards were made under Forte's 2020 Inducement Equity Incentive Plan and related award agreements.
About Forte
Forte Biosciences, Inc. is a clinical-stage biopharmaceutical company that is advancing FB102, which is a proprietary anti-CD122 monoclonal antibody therapeutic candidate with potentially broad autoimmune and autoimmune-related indications.
Source: Forte Biosciences, Inc.
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Forte Biosciences, Inc.
Paul Wagner, CEO
investors@fortebiorx.com
LifeSci Advisors
Mike Moyer, Managing Director
mmoyer@lifesciadvisors.com