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

Rhea-AI Summary

Castle Biosciences (CSTL) announced that its Board of Directors' Compensation Committee has granted restricted stock units (RSUs) to 66 new employees on June 14, 2025. The RSU grants cover 135,978 shares of common stock and were issued under the Company's 2022 Inducement Plan, complying with Nasdaq Listing Rule 5635(c)(4). The RSUs feature a four-year vesting schedule, with 25% vesting after the first year and the remaining shares vesting in three equal annual installments, contingent on continued employment.

Positive

• RSU grants indicate company's ability to attract new talent
• Structured vesting schedule helps with employee retention

Negative

• Potential dilution of existing shareholders' equity
• Additional compensation expenses impact on company financials

FRIENDSWOOD, Texas, June 19, 2025 (GLOBE NEWSWIRE) -- Castle Biosciences, Inc. (Nasdaq: CSTL), a company improving health through innovative tests that guide patient care, today announced that on June 14, 2025, the Compensation Committee of its Board of Directors granted restricted stock units (RSUs) to 66 employees covering an aggregate of 135,978 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 and uveal melanoma. Additionally, the Company has active research and development programs for tests in these and 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 seeking biologic treatment. To learn more, please visit www.CastleBiosciences.com and connect with us on LinkedIn, Facebook, X and Instagram. 

DecisionDx-Melanoma, DecisionDx-CMSeq, i31-SLNB, i31-ROR, DecisionDx-SCC, MyPath Melanoma, TissueCypher, DecisionDx-UM, DecisionDx-PRAME and DecisionDx-UMSeq are trademarks of Castle Biosciences, Inc.

Investor Contact:
Camilla Zuckero
czuckero@castlebiosciences.com

Media Contact:
Allison Marshall
amarshall@castlebiosciences.com

Source: Castle Biosciences Inc.

FAQ

How many employees received RSU grants from Castle Biosciences (CSTL) in June 2025?

66 employees received RSU grants from Castle Biosciences in June 2025.

What is the vesting schedule for Castle Biosciences' (CSTL) June 2025 RSU grants?

The RSUs vest over 4 years, with 25% vesting after the first year and the remaining vesting annually in three equal installments.

How many shares were covered in Castle Biosciences' (CSTL) June 2025 RSU grants?

The RSU grants covered an aggregate of 135,978 shares of common stock.

Under which plan were Castle Biosciences' (CSTL) June 2025 RSU grants issued?

The RSUs were granted under Castle Biosciences' 2022 Inducement Plan in accordance with Nasdaq Listing Rule 5635(c)(4).