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Adicet Bio reports inducement grant under Nasdaq listing rule

Adicet Bio, Inc. announced it granted an inducement award on April 30, 2024.

One individual was hired by Adicet in April 2024 and granted new hire non-qualified stock options to purchase 7,800 shares of Adicet’s common stock with an exercise price of $1.49 per share, the closing price of Adicet’s common stock as reported by Nasdaq on April 30, 2024. One-fourth of the shares underlying the employee’s option will vest on the one-year anniversary of the recipient’s start date and thereafter the remaining three-fourths of the shares underlying the employee’s option will vest in thirty-six substantially equal monthly installments, such that the shares underlying the option granted to the employee will be fully vested on the fourth anniversary of the recipient’s start date, subject to the employee’s continued employment with Adicet on such vesting dates.

The above-described award was granted outside of Adicet’s stockholder-approved equity incentive plans pursuant to Adicet’s 2022 Inducement Plan (the Inducement Plan), which was adopted by the board of directors in January 2022 and subsequently amended in January 2023. The award was authorized by the compensation committee of the board of directors, which is comprised solely of independent directors, as a material inducement to the employee entering into employment with Adicet in accordance with Nasdaq Listing Rule 5635(c)(4).
MB Bureau

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