Delcath Systems announces inducement grants under Nasdaq listing rule

Delcath Systems, Inc., announces that the Company granted equity awards, previously approved by the Company’s Compensation Committee, as a material inducement to the employment of two individuals whose employment commenced in December 2023.

The grant totaled the right to purchase an aggregate of 27,000 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 December 29, 2023, the date the Compensation Committee approved the stock options included within the equity inducement, and are subject to an exercise price equal to $4.16, the closing price of Delcath’s common stock 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. Each 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