Pulse Biosciences Grants Equity Incentive Awards to New Employee
April 18 2018 - 04:00PM
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, today announced that
the Compensation Committee of the company’s Board of Directors
granted non-qualified stock options covering an aggregate of
300,000 shares of Pulse Biosciences common stock to one new
employee under the Pulse Biosciences 2017 Inducement Equity
Incentive Plan on April 16, 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 $19.35 per share, which is
equal to the closing price of Pulse Biosciences common stock on
April 16, 2018. 150,000 shares underlying the option grant 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
remaining 150,000 shares underlying the option grant will vest and
become exercisable upon the achievement of certain performance
objectives, with vesting targets of no less than 25% per year upon
achievement of the performance objectives established each year in
good faith by the Compensation Committee of the company’s board of
directors. 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 clinical stage electroceutical, an
electrical energy based therapeutic, company pursuing commercial
applications of its proprietary Nano-Pulse Stimulation (NPS)
technology. NPS is a non-thermal, precise, focal, drug-free tissue
treatment technology utilizing nanosecond (billionth of a second)
range pulsed electric fields that directly affect the cell membrane
and intracellular structures and initiates programmed cell death in
treated cells. The unique ability of NPS to initiate cell death has
the potential to significantly benefit patients in a wide variety
of medical applications including applications in immuno-oncology
and dermatology, and other potential applications we may pursue in
the future. The initiation of programmed 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. 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. Pulse Biosciences is
investigating a variety of applications for its technology that
exploits the technology’s unique biologic effect, including
immuno-oncology and dermatology. More information is available at
www.pulsebiosciences.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20180418006242/en/
Investors:Pulse Biosciences, Inc.Brian Dow, Sr. Vice President
and Chief Financial OfficerIR@pulsebiosciences.comorSolebury
TroutBill KadelBkadel@Troutgroup.comorMedia:Sam Brown, Inc.Christy
Curran, 615-414-8668
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