Protara Therapeutics, Inc. Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
July 02 2020 - 4:05PM
Protara Therapeutics, Inc. (Nasdaq: TARA), a development-stage
clinical biopharmaceutical company developing treatments for rare
and specialty diseases with significant unmet needs, today
announced the grants of inducement non-qualified stock options to
purchase an aggregate of 3,700 shares of common stock to one new
employee.
Each stock option has an exercise price per
share equal to $28.20 per share, Protara’s closing trading price on
July 1, 2020, the grant date, and will vest over four years, with
25% of the underlying shares vesting on the one-year anniversary of
the individual’s start date and 1/36th of the underlying shares
vesting monthly thereafter over 36 months subject to the new
employee's continued service relationship with Protara through the
applicable vesting dates.
The Compensation Committee of Protara’s Board of
Directors approved the awards as an inducement material to the new
employees’ employment in accordance with NASDAQ Listing Rule
5635(c)(4).
About Protara Therapeutics, Inc.
Protara is committed to identifying and
advancing transformative therapies for people with rare and
specialty diseases who have limited treatment options. Protara’s
portfolio includes its lead program, TARA-002, an investigational
cell-based therapy being developed for the treatment of lymphatic
malformations, and IV Choline Chloride, an investigational
phospholipid substrate replacement therapy for the treatment of
IFALD. For more information, visit www.protaratx.com
Company Contact:
Blaine Davis Protara Therapeutics Blaine.Davis@protaratx.com
646-844-0337
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