NanoString Reports Inducement Grants Under Nasdaq Listing Rules

Rhea-AI Summary

NanoString Technologies, Inc. (Nasdaq: NSTG) announced equity inducement awards to 10 new employees, granting 34,925 restricted stock units as material inducements. One-third of the RSUs vest on the first market trading day on or following the first anniversary of the grant date and one-third annually each year on the first market trading day on or after the second and third anniversaries of the grant date, subject to continued service. The awards were made outside of NanoString’s current equity plan, the 2022 Equity Incentive Plan, and under NanoString’s 2018 Inducement Equity Incentive Plan and related award agreements.

SEATTLE--(BUSINESS WIRE)-- NanoString Technologies, Inc. (Nasdaq: NSTG), a leading provider of life science tools for discovery and translational research, today announced, as required by Nasdaq Stock Market Rules, equity inducement awards to 10 new employees.

In accordance with Nasdaq Listing Rule 5635(c)(4), on December 6, 2023, the Compensation and Human Capital Committee of NanoString’s Board of Directors approved the grant of, in the aggregate, 34,925 restricted stock units, or RSUs, as material inducements to the 10 employees entering into employment with NanoString. One-third of the RSUs vest on the first market trading day on or following the first anniversary of the grant date and one-third of the RSUs vest annually each year on the first market trading day on or after the second and third anniversaries of the grant date, subject to each employee’s continued service through each such date.

The inducement RSU awards were made outside of NanoString’s current equity plan, the 2022 Equity Incentive Plan, and under NanoString’s 2018 Inducement Equity Incentive Plan and related award agreements, but will be subject to terms and conditions generally consistent with those in the 2022 Equity Incentive Plan.

About NanoString

NanoString Technologies, a leader in spatial biology, offers an ecosystem of innovative discovery and translational research solutions, empowering our customers to map the universe of biology. The GeoMx® Digital Spatial Profiler is a flexible and consistent solution combining the power of whole tissue imaging with gene expression and protein data for spatial whole transcriptomics and proteomics. The CosMx™ Spatial Molecular Imager is a single-cell imaging platform powered by spatial multiomics enabling researchers to map single cells in their native environments to extract deep biological insights and novel discoveries from one experiment. The AtoMx™ Spatial Informatics Platform is a cloud-based informatics solution with advanced analytics and global collaboration capabilities, enabling powerful spatial biology insights anytime, anywhere. At the foundation of our research tools is our nCounter® Analysis System, which offers a secure way to easily profile the expression of hundreds of genes, proteins, miRNAs, or copy number variations, simultaneously with high sensitivity and precision.

For more information, please visit www.nanostring.com.

NanoString, NanoString Technologies, the NanoString logo, GeoMx, CosMx, AtoMx and nCounter are trademarks or registered trademarks of NanoString Technologies, Inc. in various jurisdictions.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240105961215/en/

Doug Farrell

Vice President, Investor Relations & Corporate Communications

dfarrell@nanostring.com

Phone: 206-602-1768

Source: NanoString Technologies, Inc.

What did NanoString Technologies, Inc. (Nasdaq: NSTG) announce?

NanoString Technologies, Inc. (Nasdaq: NSTG) announced equity inducement awards to 10 new employees, granting 34,925 restricted stock units as material inducements.

How many restricted stock units were granted to the employees?

NanoString Technologies, Inc. (Nasdaq: NSTG) granted 34,925 restricted stock units to the 10 employees entering into employment with the company.

What are the conditions for vesting of the RSUs?

One-third of the RSUs vest on the first market trading day on or following the first anniversary of the grant date and one-third annually each year on the first market trading day on or after the second and third anniversaries of the grant date, subject to each employee’s continued service through each such date.

Under which equity plan were the inducement RSU awards made?

The inducement RSU awards were made outside of NanoString’s current equity plan, the 2022 Equity Incentive Plan, and under NanoString’s 2018 Inducement Equity Incentive Plan and related award agreements.