Pulse Biosciences Grants Equity Incentive Awards to New Employees on August 3, 2018
HAYWARD, Calif.--(BUSINESS WIRE)-- Pulse Biosciences, Inc. (NASDAQ:PLSE), a medical technology company developing a proprietary therapeutic tissue treatment based on its Nano-Pulse Stimulation (NPS) platform, announced today that the Compensation Committee of the company’s Board of Directors granted non-qualified stock options covering an aggregate of 18,250 shares of Pulse Biosciences common stock to five new non-executive employees under the Pulse Biosciences 2017 Inducement Equity Incentive Plan on August 3, 2018.
The 2017 Inducement Equity Incentive Plan is used exclusively to grant equity awards to individuals who were not previously an employee or non-employee director of Pulse Biosciences as an inducement material to such individual's entering into employment with Pulse Biosciences in accordance with Nasdaq Marketplace Rule 5635(c)(4).
The options have an exercise price of $12.83 per share, which is equal to the closing price of Pulse Biosciences common stock on August 3, 2018. The 18,250 shares underlying the option grants will vest and become exercisable as to 25% of the shares on the first anniversary of the recipient’s start date, and will vest and become exercisable as to the remaining 75% of the shares in 36 equal monthly installments following the first anniversary of the recipient’s start date, subject to the recipient’s continued employment with Pulse Biosciences on these vesting dates. The options are subject to the terms and conditions of the 2017 Inducement Equity Incentive Plan and the award agreements entered into with each recipient.
About Pulse Biosciences
Pulse Biosciences is a publicly listed clinical stage electroceutical company pursuing multiple clinical applications of its proprietary Nano-Pulse Stimulation technology. Nano-Pulse Stimulation (NPS) is a non-thermal, precise, focal tissue treatment technology comprised of nanosecond (billionth of a second) range pulsed electric fields that directly affect the cell membrane and intracellular structures and initiates cell death in treated cells. The initiation of cell death by NPS results in a minimal inflammatory response, which improves healing outcomes and supports the replacement of treated tissue cells with healthy tissue cells. NPS’ unique mechanism of action to initiate cell death has the potential to significantly benefit patients for multiple medical applications in dermatology, immune-oncology, and in other unique tissue targets. In cancerous lesions, NPS has been shown in preclinical models to induce immunogenic cell death (ICD), which exposes the unique antigens of the treated cells to the immune system and enrolls immune system cells, such as cytotoxic T-cells to mount an adaptive immune response. More information is available at www.pulsebiosciences.com.
Source: Pulse Biosciences, Inc.