ADC Therapeutics Makes Grants to New Employees Under Inducement Plan

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ADC Therapeutics (NYSE: ADCT) has granted stock options to two new employees totaling 107,550 common shares as part of their employment inducement package. The grants, approved by the Company's Compensation Committee under the Inducement Plan, were made on June 2, 2025. The options will vest over a four-year period, with 25% vesting on the first anniversary and the remaining vesting monthly at a rate of 1/48th, contingent on continued employment. The grants were made in compliance with NYSE's Listed Company Manual Rule 303A.08 and aim to motivate high performance and significant contributions to the company's success.

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LAUSANNE, Switzerland, June 2, 2025 /PRNewswire/ -- ADC Therapeutics SA (NYSE: ADCT), a commercial-stage global leader and pioneer in the field of antibody drug conjugates (ADCs), today announced that the Company has made grants of options to purchase an aggregate of 107,550 of the Company's common shares to two new employees on June 2, 2025 (each, a "Grant").

The Grants were offered as material inducement to the employees' employment. The grants were approved by the Compensation Committee of the Company's Board of Directors pursuant to the Company's Inducement Plan to motivate and reward the recipients to perform at the highest levels and contribute significantly to the success of the Company. The Grants were made in reliance on the employment inducement exemption under the NYSE's Listed Company Manual Rule 303A.08.

The Company is issuing this press release pursuant to Rule 303A.08. The Grants shall vest and become exercisable 25% on the first anniversary of the grant date, and 1/48th of the aggregate number of shares subject to the award on each monthly anniversary of the grant date thereafter, such that the entire award will be vested as of the fourth anniversary of the grant date, subject to continued employment with the Company.

About ADC Therapeutics

ADC Therapeutics (NYSE: ADCT) is a commercial-stage global leader and pioneer in the field of antibody drug conjugates (ADCs). The Company is advancing its proprietary ADC technology to transform the treatment paradigm for patients with hematologic malignancies and solid tumors.

ADC Therapeutics' CD19-directed ADC ZYNLONTA (loncastuximab tesirine-lpyl) received accelerated approval by the FDA and conditional approval from the European Commission for the treatment of relapsed or refractory diffuse large B-cell lymphoma after two or more lines of systemic therapy. ZYNLONTA is also in development in combination with other agents and in earlier lines of therapy. In addition to ZYNLONTA, ADC Therapeutics has multiple ADCs in ongoing clinical and preclinical development.

ADC Therapeutics is based in Lausanne (Biopôle), Switzerland, and has operations in London and New Jersey. For more information, please visit https://adctherapeutics.com/ and follow the Company on LinkedIn.

ZYNLONTA^® is a registered trademark of ADC Therapeutics SA.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. In some cases you can identify forward-looking statements by terminology such as "may", "will", "should", "would", "expect", "intend", "plan", "anticipate", "believe", "estimate", "predict", "potential", "seem", "seek", "future", "continue", or "appear" or the negative of these terms or similar expressions, although not all forward-looking statements contain these identifying words. Forward-looking statements are subject to certain risks and uncertainties that can cause actual results to differ materially from those described. Factors that may cause such differences include, but are not limited to: whether future LOTIS-7 clinical trial results will be consistent with or different from the LOTIS-7 data presented at EHA and ICML, the timing of the PFS events for LOTIS-5 and the results of the trial, the expected cash runway into the second half of 2026 which assumes use of minimum liquidity amount required to be maintained under its loan agreement covenants; the Company's ability to grow ZYNLONTA^® revenue in the United States; the ability of our partners to commercialize ZYNLONTA^® in foreign markets, the timing and amount of future revenue and payments to us from such partnerships and their ability to obtain regulatory approval for ZYNLONTA^® in foreign jurisdictions; the timing and results of the Company's or its partners' research and development projects or clinical trials including LOTIS 5 and 7, as well as early research in certain solid tumors with different targets, linkers and payloads; the timing and results of investigator-initiated trials including those studying FL and MZL and the potential regulatory and/or compendia strategy and the future opportunity; the timing and outcome of regulatory submissions for the Company's products or product candidates; actions by the FDA or foreign regulatory authorities; projected revenue and expenses; the Company's indebtedness, including Healthcare Royalty Management and Blue Owl and Oaktree facilities, and the restrictions imposed on the Company's activities by such indebtedness, the ability to comply with the terms of the various agreements and repay such indebtedness and the significant cash required to service such indebtedness; and the Company's ability to obtain financial and other resources for its research, development, clinical, and commercial activities. Additional information concerning these and other factors that may cause actual results to differ materially from those anticipated in the forward-looking statements is contained in the "Risk Factors" section of the Company's Annual Report on Form 10-K and in the Company's other periodic and current reports and filings with the U.S. Securities and Exchange Commission. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance, achievements or prospects to be materially different from any future results, performance, achievements or prospects expressed in or implied by such forward-looking statements. The Company cautions investors not to place undue reliance on the forward-looking statements contained in this document.

CONTACTS:
Investors
Marcy Graham
ADC Therapeutics
Marcy.Graham@adctherapeutics.com
+1 650-667-6450

Media
Nicole Riley
ADC Therapeutics
Nicole.Riley@adctherapeutics.com
+1 862-926-9040

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SOURCE ADC Therapeutics SA

FAQ

What stock options did ADC Therapeutics (ADCT) grant to new employees in June 2025?

ADC Therapeutics granted options to purchase 107,550 common shares to two new employees on June 2, 2025, as part of their employment inducement package.

What is the vesting schedule for ADCT's employee stock options granted in June 2025?

The options vest 25% on the first anniversary of the grant date, followed by 1/48th monthly thereafter, completing full vesting after four years, subject to continued employment.

Why did ADC Therapeutics issue stock options to new employees?

The options were granted as material inducement to employment and to motivate and reward recipients to perform at the highest levels and contribute significantly to the company's success.

How does ADC Therapeutics' stock option grant comply with NYSE regulations?

The grants were made in compliance with NYSE's Listed Company Manual Rule 303A.08, which provides an employment inducement exemption, and were approved by the Compensation Committee.