RED BANK, N.J., Feb. 4, 2022 /PRNewswire/ -- Provention Bio,
Inc. (Nasdaq: PRVB) (the "Company"), a biopharmaceutical company
dedicated to intercepting and preventing immune-mediated diseases,
today announced that the Company granted stock options on
February 1, 2022 to a new
non-executive employee to purchase an aggregate of 30,000 shares of
common stock. The stock options were granted without stockholder
approval as inducements, material to the new non-executive employee
entering into employment with the Company pursuant to Nasdaq
Listing Rule 5635(c)(4) and were approved by the Company's
compensation committee of the board of directors.
The stock options were granted with a 10-year term and an
exercise price equal to $5.30, the closing price per share of
the Company's common stock as reported by Nasdaq on February 1, 2022. Each of the options will vest
25% on the one year anniversary of the grant date and 75% in equal
monthly installments thereafter so that the grant is fully vested
on the four year anniversary of the grant date, provided that the
new employee continues to serve as an employee of, or other service
provider to, the Company on each such vesting date. The stock
options are subject to the terms of the Provention Bio, Inc. 2020
Inducement Plan.
About Provention Bio, Inc.:
Provention Bio, Inc.
(Nasdaq: PRVB) is a biopharmaceutical company focused on advancing
the development of investigational therapies that may intercept and
prevent debilitating and life-threatening immune-mediated disease.
The Company's pipeline includes clinical-stage product candidates
that have demonstrated in pre-clinical or clinical studies
proof-of-mechanism and/or proof-of-concept in autoimmune diseases,
including type 1 diabetes, celiac disease and lupus. Visit
www.ProventionBio.com for more information and follow us on
Twitter: @ProventionBio.
Internet Posting of Information:
Provention Bio, Inc. uses its website, www.proventionbio.com,
as a means of disclosing material nonpublic information and for
complying with its disclosure obligations under Regulation F.D.
Such disclosures will be included on the Company's website in the
"News" section. Accordingly, investors should monitor this portion
of the Company's website, in addition to following its press
releases, SEC filings and public conference calls and
webcasts.
Investor Contact:
Robert
Doody, VP of Investor Relations
rdoody@proventionbio.com
484-639-7235
View original content to download
multimedia:https://www.prnewswire.com/news-releases/provention-bio-announces-the-grant-of-inducement-award-301475644.html
SOURCE Provention Bio, Inc.