Precision BioSciences, Inc. DTILa clinical-stage gene editing company developing ARCUS®-based ex vivo allogeneic CAR T and in vivo Gene Editing Therapies announced today that on November 2, 2022, the Compensation Committee of Precision’s Board of Directors approved the award of incentive awards to new employees under the Precision BioSciences, Inc. 2021 Employment Incentive Plan (“Incentive Plan”). ). The incentive awards consist of options to purchase (“stock options”) an aggregate of 272,352 common shares of Precision with a par value of $0.000005 (the “Common Shares”), where the stock options were granted to fifteen employees who terminated their employment between 25th December 2022 and October 17, 2022. Each of the stock options was granted pursuant to Nasdaq Listing Rule 5635(c)(4) as an incentive to employees to join Precision.
The stock options have an exercise price per share equal to the fair market value of Precision common stock on the grant date, which was $1.39. Each of the stock options has a term of 10 years and will (subject to continued service to Precision through the applicable vesting dates) vest at 25% of the grant on the first anniversary of the commencement date of their employment and with respect to the remaining 75% in substantially equal quarterly instalments over the three years thereafter.
About Precision BioSciences, Inc.
Precision BioSciences, Inc. is a clinical-stage biotechnology company focused…
