Twist Bioscience Corporation Announces Inducement Grant under NASDAQ Listing Rule 5635(c)(4)
January 08 2024 - 8:00AM
Business Wire
As required by the rules of the Nasdaq Stock Market, Twist
Bioscience Corporation (NASDAQ: TWST) (“Twist” or the “Company”), a
company enabling customers to succeed through its offering of
high-quality synthetic DNA using its silicon platform, today
announced that it has granted a total of 50,000 restricted stock
units (“RSUs”) and 70,000 shares subject to the Company’s executive
compensation programs to Adam Laponis, Twist’s recently appointed
chief financial officer, as an inducement material to his
acceptance of employment with Twist. The employment inducement
award was granted under Twist’s Inducement Equity Incentive Plan
and related form of restricted stock award agreement in accordance
with Nasdaq Listing Rule 5635(c)(4).
The inducement plan is used exclusively for the grant of equity
awards to individuals who were not previously employees of Twist,
or following a bona fide period of non-employment, as an inducement
material to such individuals entering into employment with Twist,
pursuant to Nasdaq Listing Rule 5635(c)(4).
The 50,000 RSUs vest quarterly over a 48-month period, with the
first 25% vesting on the one-year anniversary of Mr. Laponis’
employment. The 70,000 shares subject to the Company’s executive
compensation programs include 25,000 RSUs, which vest quarterly
over a 48-month period; 25,000 performance stock units (“PSUs”),
which vest based on achievement against the metrics established in
connection with the Company’s fiscal year 2024 long-term incentive
program; and 20,000 PSUs, which vest based on achievement against
the metrics established in connection with the Company’s fiscal
year 2024 cash balance measurement program.
About Twist Bioscience Corporation
Twist Bioscience is a leading and rapidly growing synthetic
biology and genomics company that has developed a disruptive DNA
synthesis platform to industrialize the engineering of biology. The
core of the platform is a proprietary technology that pioneers a
new method of manufacturing synthetic DNA by “writing” DNA on a
silicon chip. Twist is leveraging its unique technology to
manufacture a broad range of synthetic DNA-based products,
including synthetic genes, tools for next-generation sequencing
(NGS) preparation, and antibody libraries for drug discovery and
development. Twist is also pursuing longer-term opportunities in
digital data storage in DNA and biologics drug discovery. Twist
makes products for use across many industries including healthcare,
industrial chemicals, agriculture and academic research.
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version on businesswire.com: https://www.businesswire.com/news/home/20240108881376/en/
For Investors: Angela Bitting SVP, Corporate Affairs
925-202-6211 abitting@twistbioscience.com
For Media: Amanda Houlihan Communications Generalist
774-265-5334 ahoulihan@twistbioscience.com
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