Castle Biosciences Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Castle Biosciences, Inc. (Nasdaq: CSTL) granted restricted stock units to 52 employees covering 170,913 shares of common stock as an inducement material to their entering into employment. The RSUs will vest over four years, with 25% of the shares vesting on the first anniversary of the applicable vesting commencement date, and the balance vesting annually thereafter in three equal installments, subject to the employee’s continued service through each applicable vesting date.

FRIENDSWOOD, Texas--(BUSINESS WIRE)-- Castle Biosciences, Inc. (Nasdaq: CSTL), a company improving health through innovative tests that guide patient care, today announced that on Dec. 18, 2023, the Compensation Committee of its Board of Directors granted restricted stock units (RSUs) to 52 employees covering an aggregate of 170,913 shares of common stock as an inducement material to their entering into employment with Castle Biosciences. The RSUs were granted pursuant to the Company’s 2022 Inducement Plan in accordance with Nasdaq Listing Rule 5635(c)(4).

The RSUs will vest over four years, with 25% of the shares vesting on the first anniversary of the applicable vesting commencement date, and the balance vesting annually thereafter in three equal installments, subject to the employee’s continued service through each applicable vesting date.

About Castle Biosciences

Castle Biosciences (Nasdaq: CSTL) is a leading diagnostics company improving health through innovative tests that guide patient care. The Company aims to transform disease management by keeping people first: patients, clinicians, employees and investors.

Castle’s current portfolio consists of tests for skin cancers, Barrett’s esophagus, mental health conditions and uveal melanoma. Additionally, the Company has active research and development programs for tests in other diseases with high clinical need, including its test in development to help guide systemic therapy selection for patients with moderate-to-severe atopic dermatitis, psoriasis and related conditions. To learn more, please visit www.CastleBiosciences.com and connect with us on LinkedIn, Facebook, X and Instagram.

DecisionDx-Melanoma, DecisionDx-CMSeq, DecisionDx-SCC, MyPath Melanoma, DiffDx-Melanoma, TissueCypher, IDgenetix, DecisionDx-UM, DecisionDx-PRAME and DecisionDx-UMSeq are trademarks of Castle Biosciences, Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231220230908/en/

Investor Contact:

Camilla Zuckero

czuckero@castlebiosciences.com

Media Contact:

Allison Marshall

amarshall@castlebiosciences.com

Source: Castle Biosciences Inc.

FAQ

What did Castle Biosciences, Inc. (CSTL) announce?

Castle Biosciences, Inc. (CSTL) announced the granting of restricted stock units (RSUs) to 52 employees covering 170,913 shares of common stock as an inducement material to their entering into employment.

How many shares were covered by the RSUs granted by Castle Biosciences, Inc. (CSTL)?

The RSUs granted by Castle Biosciences, Inc. (CSTL) covered an aggregate of 170,913 shares of common stock.

What is the vesting period for the RSUs granted by Castle Biosciences, Inc. (CSTL)?

The RSUs granted by Castle Biosciences, Inc. (CSTL) will vest over four years, with 25% of the shares vesting on the first anniversary of the applicable vesting commencement date, and the balance vesting annually thereafter in three equal installments, subject to the employee’s continued service through each applicable vesting date.