Delcath announces inducement grant under Nasdaq listing rule

Delcath Systems, Inc. announced that the Company granted an equity award, previously approved by the Company’s Compensation Committee, as a material inducement to the employment of one individual whose employment commenced in March 2024.

The grant totaled the right to purchase an aggregate of 30,000 shares of the Company’s common stock and is subject to the terms and conditions of the Company’s 2023 Inducement Plan (“Plan”). The options were granted on March 29, 2024, the date the Compensation Committee approved the stock option included within the equity inducement and are subject to an exercise price equal to $4.77, the closing price of Delcath’s common stock on March 28, 2024 (as the Nasdaq market was closed on the grant date). One-third of the options will vest on the first anniversary of the grant date with the remaining two-thirds of the options vesting in equal monthly installments over the following twenty-four months. The option has a ten-year term and the vesting of the options is subject to the employee’s continued employment with Delcath on each vesting date.

The above-described awards were each granted in accordance with NASDAQ Listing Rule 5635(c)(4), and were granted pursuant to the terms of the Plan.
MB Bureau