Personalis, Inc. (Nasdaq:PSNL), a leader in advanced genomics for cancer, today announced that, effective on July 15, 2020, the Compensation Committee of its Board of Directors granted non-qualified stock options to purchase an aggregate of 44,600 shares of its common stock and restricted stock units (RSUs) covering an aggregate of 34,800 shares of its common stock to seven new employees under Personalis’ 2020 Inducement Plan.
The 2020 Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously an employee or non-employee director of Personalis, as an inducement material to such individual’s entering into employment with Personalis, pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules. Personalis is making this announcement as required by Nasdaq rules.
The inducement stock options have an exercise price of $16.92 per share, which is equal to the closing price of Personalis’ common stock on July 15, 2020, and will vest over four years, with 25% of the shares vesting on the first anniversary of the grant date and 1/36th of the remaining shares vesting monthly thereafter, subject to continued service through each applicable vesting date. The RSUs will vest over four years, with 25% of the shares vesting on the first anniversary of the grant date and an additional 25% of the shares vesting annually thereafter, subject to continued service through each applicable vesting date. The options and RSUs are subject to the terms and conditions of Personalis’ 2020 Inducement Plan, and the terms and conditions of the applicable award agreement covering each grant.
About Personalis, Inc.
Personalis, Inc. is a growing cancer genomics company transforming the development of next-generation therapies by providing more comprehensive molecular data about each patient’s cancer and immune response. The Personalis® ImmunoID NeXT Platform® is designed to adapt to the complex and evolving understanding of cancer, providing its biopharmaceutical customers with information on all of the approximately 20,000 human genes, together with the immune system, from a single tissue sample. Personalis also provides genomic information to the VA Million Veterans Program as part of their goal to sequence over a million veteran genomes. The Personalis Clinical Laboratory is GxP aligned as well as CLIA’88-certified and CAP-accredited. For more information, please visit www.personalis.com and follow Personalis on Twitter (@PersonalisInc).