Protara Therapeutics, Inc. Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Protara Therapeutics (Nasdaq: TARA) has issued inducement non-qualified stock options for 5,200 shares to two new employees.

Rhea-AI Summary

Protara Therapeutics (Nasdaq: TARA) has issued inducement non-qualified stock options for 5,200 shares to two new employees. The exercise price is set at $17.84, the closing price on November 2, 2020. Vesting occurs over four years, with 25% vesting after one year and the remainder monthly over 36 months, contingent upon continued employment. This grant complies with NASDAQ Listing Rule 5635(c)(4). Protara focuses on innovative therapies for cancer and rare diseases, including TARA-002 for bladder cancer and IV Choline Chloride for liver disease.

Positive

• Grant of stock options may attract talent, enhancing company capabilities.
• Complies with NASDAQ rules, ensuring governance standards.
• Focus on transformative therapies highlights growth potential.

Negative

• None.

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NEW YORK, Nov. 04, 2020 (GLOBE NEWSWIRE) -- Protara Therapeutics, Inc. (Nasdaq: TARA), a clinical stage company developing transformative therapies for the treatment of cancer and rare diseases with significant unmet needs, today announced the grants of inducement non-qualified stock options to purchase an aggregate of 5,200 shares of common stock to two new employees.

Each stock option has an exercise price per share equal to $17.84 per share, Protara’s closing trading price on November 2, 2020, the grant date, and will vest over four years, with 25% of the underlying shares vesting on the one-year anniversary of the individual’s start date and 1/36th of the underlying shares vesting monthly thereafter over 36 months subject to the new employee's continued service relationship with Protara through the applicable vesting dates.

The Compensation Committee of Protara’s Board of Directors approved the awards as an inducement material to the new employees’ employment in accordance with NASDAQ Listing Rule 5635(c)(4).

About Protara Therapeutics

Protara is committed to identifying and advancing transformative therapies for people with cancer and rare diseases with limited treatment options. Protara’s portfolio includes its lead program, TARA-002, an investigational cell-based therapy being developed for the treatment of non-muscle invasive bladder cancer and lymphatic malformations, and IV Choline Chloride, an investigational phospholipid substrate replacement therapy for the treatment of intestinal failure-associated liver disease. For more information, visit www.protaratx.com

Company Contact:

Blaine Davis
Protara Therapeutics
Blaine.Davis@protaratx.com
646-844-0337

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What recent stock options were granted by Protara Therapeutics (TARA)?

Protara Therapeutics granted inducement stock options for 5,200 shares at an exercise price of $17.84.

How will the stock options for new employees at Protara Therapeutics vest?

The stock options will vest over four years, with 25% vesting after one year and the rest monthly over 36 months.

What is the purpose of the stock options granted by Protara Therapeutics (TARA)?

These stock options are designed as an inducement for new employees to join the company.

What does Protara Therapeutics focus on in its development?

Protara Therapeutics focuses on developing transformative therapies for cancer and rare diseases.