Forte Biosciences, Inc. Reports Inducement Grants Under NASDAQ Listing Rules
Forte Biosciences, Inc. (FBRX)
Company Research
Source: Business Wire
TORRANCE, Calif.--(BUSINESS WIRE)--Forte Biosciences, Inc. (www.fortebiorx.com) (NASDAQ: FBRX), a clinical-stage biopharmaceutical company, today announced the issuance of an equity inducement award as required by the Nasdaq Stock Market Rules.In accordance with NASDAQ Listing Rule 5635(c)(4), the Compensation Committee of Forte’s Board of Directors approved the grant of an equity award to purchase 60,000 shares of common stock to a new non-executive employee as a material inducement to such individual’s accepting employment with the Company, with such award vesting over four years, with twenty-five percent vesting on the one-year anniversary of the grant date and the remaining seventy-five percent vesting in approximately equal monthly increments over the succeeding thirty-six months, subject to the individual’s continuous employment through each vesting date.The Inducement Award was made outside of Forte’s current equity plan, under Forte’s 2020 Inducement Equity Incentive Plan
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