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 for cancer and autoimmune diseases, has announced a new employee inducement award. On March 3, 2025, the company granted restricted stock units (RSUs) for 24,000 shares of common stock to one newly-hired non-executive employee.

The grant, approved by the Compensation Committee under the Company's Amended and Restated Inducement Equity Plan, complies with Nasdaq Listing Rule 5635(c)(4). The RSUs will vest over a four-year period, with 25% of shares vesting annually on each grant date anniversary, contingent on continuous employment.

SAN DIEGO, March 04, 2025 (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 March 3, 2025 the Company granted restricted stock units (RSUs) representing 24,000 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 employees 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 in their March 2025 inducement award?

Fate Therapeutics granted 24,000 RSUs to one newly-hired non-executive employee on March 3, 2025.

What is the vesting schedule for FATE's March 2025 inducement RSU grant?

The RSUs vest over 4 years, with 25% vesting annually on each grant date anniversary.

Under which regulatory rule was FATE's March 2025 inducement grant approved?

The grant was approved under Nasdaq Listing Rule 5635(c)(4) as an inducement for employment.

What is the purpose of Fate Therapeutics' March 2025 inducement equity award?

The award serves as an inducement material to attract a new non-executive employee to join the company.