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

Rhea-AI Summary

Protara Therapeutics (Nasdaq: TARA), a clinical-stage company focused on cancer and rare disease therapies, has announced inducement grants to two new employees. The company's Compensation Committee approved 29,500 stock options at an exercise price of $2.80 per share and 14,750 restricted stock units (RSUs) as of July 1, 2025.

The stock options will vest over four years, with 25% vesting after one year and the remainder vesting monthly over 36 months. The RSUs will vest over three years, with one-third vesting annually. Both grants are contingent on continued employment with Protara.

NEW YORK, July 01, 2025 (GLOBE NEWSWIRE) -- Protara Therapeutics, Inc. (Nasdaq: TARA) (“Protara” or the “Company”), a clinical-stage company developing transformative therapies for the treatment of cancer and rare diseases, today announced the recent grants of inducement non-qualified stock options and restricted stock units (RSUs) to two newly-hired employees.

The Compensation Committee of Protara’s Board of Directors approved an aggregate of 29,500 stock option awards and 14,750 RSU awards to two new employees from the Inducement Plan, as inducements material to the new employees’ employment in accordance with Nasdaq Listing Rule 5635(c)(4). Such option awards were granted on July 1, 2025 and have an exercise price of $2.80 per share, Protara’s closing trading price on the grant date. Such RSU awards will have a grant date of July 1, 2025.

All option awards vest over four years, with 25% of the underlying shares vesting on the one-year anniversary of the grant date and 1/36th of the underlying shares vesting monthly thereafter over 36 months. All RSU awards vest over three years, with 33 1/3% of the shares underlying the RSU award vesting on each of the three consecutive anniversaries of the grant date. The vesting of all option and RSU awards is subject to the employee's continued service with the company through the applicable vesting dates.

About Protara Therapeutics, Inc.

Protara is a clinical-stage biotechnology company committed to advancing transformative therapies for people with cancer and rare diseases. Protara’s portfolio includes its lead candidate, TARA-002, an investigational cell-based therapy in development for the treatment of non-muscle invasive bladder cancer (NMIBC) and lymphatic malformations (LMs). The Company is evaluating TARA-002 in an ongoing Phase 2 trial in NMIBC patients with carcinoma in situ (CIS) who are unresponsive or naïve to treatment with Bacillus Calmette-Guérin (BCG), as well as a Phase 2 trial in pediatric patients with LMs. Additionally, Protara is developing IV Choline Chloride, an investigational phospholipid substrate replacement for patients on parenteral nutrition who are otherwise unable to meet their choline needs via oral or enteral routes. For more information, visit www.protaratx.com.

Company Contact:

Justine O'Malley
Protara Therapeutics
Justine.OMalley@protaratx.com
646-817-2836

Source: Protara Therapeutics

FAQ

What type of inducement grants did Protara Therapeutics (TARA) announce on July 1, 2025?

Protara announced 29,500 stock options at $2.80 per share and 14,750 RSUs granted to two new employees.

What is the vesting schedule for Protara Therapeutics' (TARA) new stock option grants?

The stock options vest over 4 years, with 25% vesting after one year and 1/36th vesting monthly for the following 36 months.

How do the RSUs vest in Protara Therapeutics' (TARA) July 2025 inducement grants?

The RSUs vest over three years, with 33 1/3% of shares vesting on each anniversary of the grant date.

What was the exercise price for Protara Therapeutics' (TARA) July 2025 stock option grants?

The stock options were granted with an exercise price of $2.80 per share, which was Protara's closing price on July 1, 2025.