GRAIL Announces Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)

Rhea-AI Summary

GRAIL (Nasdaq: GRAL) has announced the granting of equity awards to 46 newly hired non-executive employees. The awards consist of restricted stock units (RSUs) totaling 115,093 shares of GRAIL's common stock. These inducement grants were made under GRAIL's Inducement Equity Incentive Plan in compliance with Nasdaq Listing Rule 5635(c)(4).

The RSUs will vest over approximately four years, with 25% vesting on November 30, 2025, and the remaining portions vesting annually thereafter, contingent on continued employment with GRAIL or its subsidiaries.

Positive

• Employee retention strategy implemented through equity-based compensation
• Successful recruitment of 46 new employees indicating company growth

Negative

• Potential shareholder dilution from issuance of 115,093 new shares

MENLO PARK, Calif., Dec. 3, 2024 /PRNewswire/ -- GRAIL, Inc. (Nasdaq: GRAL), a healthcare company whose mission is to detect cancer early when it can be cured, today announced that it has granted equity awards in the form of restricted stock units ("RSUs") underlying an aggregate of 115,093 shares of GRAIL's common stock to 46 recently hired non-executive employees as an inducement material to their acceptance of employment with GRAIL. The employment inducement awards were granted under GRAIL's Inducement Equity Incentive Plan and related form of restricted stock award agreement in accordance with Nasdaq Listing Rule 5635(c)(4).

The inducement plan is used exclusively for the grant of equity awards to individuals who were not previously employees of GRAIL, or following a bona fide period of non-employment, as an inducement material to such individuals entering into employment with GRAIL, pursuant to Nasdaq Listing Rule 5635(c)(4).

The RSUs vest over an approximately four year period, with 25% of the award vesting November 30, 2025, and on each one year anniversary of those respective dates thereafter, subject to continued employment with GRAIL (or any successor to or subsidiary of the Company) through the vesting dates.

About GRAIL
GRAIL is a healthcare company whose mission is to detect cancer early, when it can be cured. GRAIL is focused on alleviating the global burden of cancer by using the power of next-generation sequencing, population-scale clinical studies, and state-of-the-art machine learning, software, and automation to detect and identify multiple deadly cancer types in earlier stages. GRAIL's targeted methylation-based platform can support the continuum of care for screening and precision oncology, including multi-cancer early detection in symptomatic patients, risk stratification, minimal residual disease detection, biomarker subtyping, treatment and recurrence monitoring. GRAIL is headquartered in Menlo Park, CA with locations in Washington, D.C., North Carolina, and the United Kingdom.

For more information, visit grail.com.

 

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SOURCE GRAIL, Inc.

FAQ

How many shares of GRAIL (GRAL) were granted as RSUs in December 2024?

GRAIL granted RSUs underlying 115,093 shares of common stock to newly hired employees.

What is the vesting schedule for GRAIL's (GRAL) December 2024 RSU grants?

The RSUs vest over four years, with 25% vesting on November 30, 2025, and annually thereafter.

How many new employees received RSU grants from GRAIL (GRAL) in December 2024?

46 newly hired non-executive employees received RSU grants.