Fate Therapeutics Reports New Employee Inducement Award Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Fate Therapeutics (NASDAQ: FATE), a clinical-stage biopharmaceutical company focused on iPSC-derived cellular immunotherapies, has granted 18,600 restricted stock units (RSUs) to a new non-executive employee. The grant, approved by the company's Compensation Committee, was made under the Amended and Restated Inducement Equity Plan in accordance with Nasdaq Listing Rule 5635(c)(4). The RSUs will vest over four years, with 25% vesting annually on each grant date anniversary, contingent on continuous employment.

SAN DIEGO, Dec. 03, 2024 (GLOBE NEWSWIRE) -- Fate Therapeutics, Inc. (NASDAQ: FATE), a clinical-stage biopharmaceutical company dedicated to bringing a first-in-class pipeline of induced pluripotent stem cell (iPSC)-derived cellular immunotherapies to patients with cancer and autoimmune diseases, today announced that on December 2, 2024 the Company granted restricted stock units (RSUs) representing 18,600 shares of its common stock to one newly-hired non-executive employee. The grant was approved by the Compensation Committee of the Company’s Board of Directors and granted under the Company’s Amended and Restated Inducement Equity Plan as an inducement material to the new employee entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4). The RSUs will vest over four years, with 25% of the shares underlying each RSU award vesting on each anniversary of the grant date, subject to the employee being continuously employed by the Company through each vesting date.

About Fate Therapeutics, Inc.
Fate Therapeutics is a clinical-stage biopharmaceutical company dedicated to bringing a first-in-class pipeline of induced pluripotent stem cell (iPSC)-derived cellular immunotherapies to patients with cancer and autoimmune diseases. Using its proprietary iPSC product platform, the Company has established a leadership position in creating multiplexed-engineered iPSC lines and in the manufacture and clinical development of off-the-shelf, iPSC-derived cell products. The Company’s pipeline includes iPSC-derived natural killer (NK) cell and T-cell product candidates, which are selectively designed, incorporate novel synthetic controls of cell function, and are intended to deliver multiple therapeutic mechanisms to patients. Fate Therapeutics is headquartered in San Diego, CA. For more information, please visit www.fatetherapeutics.com.

Contact:
Christina Tartaglia
Precision AQ
212.362.1200
christina.tartaglia@precisionaq.com

FAQ

How many RSUs did Fate Therapeutics (FATE) grant to its new employee in December 2024?

Fate Therapeutics granted 18,600 restricted stock units (RSUs) to one newly-hired non-executive employee on December 2, 2024.

What is the vesting schedule for FATE's December 2024 employee RSU grant?

The RSUs will vest over four years, with 25% of the shares vesting on each anniversary of the grant date, subject to continuous employment.

Under which rule did Fate Therapeutics (FATE) issue the December 2024 RSU grant?

The RSU grant was issued under Nasdaq Listing Rule 5635(c)(4) through the Company's Amended and Restated Inducement Equity Plan.