Nabriva Therapeutics Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4) - Oct 01, 2021
DUBLIN, Ireland, Oct. 01, 2021 (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 a non-statutory stock option to purchase an aggregate of 100,000 ordinary shares of Nabriva Therapeutics as an inducement to Christopher Naftzger, Nabriva’s newly appointed General Counsel. This grant was awarded pursuant to the Nasdaq inducement grant exception as a component of new hire employment compensation.
The stock option was granted effective September 30, 2021 with an exercise price of $1.19 per share, which is equal to the closing price of Nabriva Therapeutics’ ordinary shares on the date of grant. The stock option has a 10-year term and vests over four years, with 25% of the original number of shares vesting on the annual anniversary of the grant date until fully vested, subject to the employee's continued service with the Company through the applicable vesting dates. The stock option award was approved by Nabriva Therapeutics’ Compensation Committee and was granted as an inducement material to the new employee’s acceptance of employment in accordance with Nasdaq Listing Rule 5635(c)(4). The stock option is subject to the terms and conditions of a stock option agreement covering the grant and Nabriva Therapeutics’ 2021 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 injection, lefamulin tablets), the first systemic pleuromutilin antibiotic for community-acquired bacterial pneumonia (CABP). Nabriva Therapeutics is also developing CONTEPO™ (fosfomycin) for injection, a potential first-in-class epoxide antibiotic for complicated urinary tract infections (cUTI), including acute pyelonephritis. Nabriva entered into an exclusive agreement with subsidiaries of Merck & Co. Inc., Kenilworth, N.J., USA to market, sell and distribute SIVEXTRO® (tedizolid phosphate) in the United States and certain of its territories.
Nabriva Therapeutics plc