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Twist Bioscience Corporation (NASDAQ: TWST) announces grant of 130,400 restricted stock units to 15 new hires. The RSUs vest over a 48-month period, in accordance with Nasdaq rules.
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SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--
As required by the rules of the Nasdaq Stock Market, Twist Bioscience Corporation (NASDAQ: TWST), a company enabling customers to succeed through its offering of high-quality synthetic DNA using its silicon platform, today announced that it has granted a total of 130,400 restricted stock units (“RSUs”) to 15 recently hired individuals as an inducement material to their acceptance of employment with Twist. The employment inducement awards were granted under Twist’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 Twist, or following a bona fide period of non-employment, as an inducement material to such individuals entering into employment with Twist, pursuant to Nasdaq Listing Rule 5635(c)(4).
The RSUs vest over a 48-month period for each employee as follows: 25% vests on the one year anniversary of the start date of the employee (the “Vesting Commencement Date”), and 1/16 of the RUSs vests on each quarterly anniversary of the Vesting Commencement Date thereafter, subject to the employee’s continued service through each vesting date.
About Twist Bioscience Corporation
Twist Bioscience is a leading and rapidly growing synthetic biology and genomics company that has developed a disruptive DNA synthesis platform to industrialize the engineering of biology. The core of the platform is a proprietary technology that pioneers a new method of manufacturing synthetic DNA by “writing” DNA on a silicon chip. Twist is leveraging its unique technology to manufacture a broad range of synthetic DNA-based products, including synthetic genes, tools for next-generation sequencing (NGS) preparation, and antibody libraries for drug discovery and development. Twist is also pursuing longer-term opportunities in digital data storage in DNA and biologics drug discovery. Twist makes products for use across many industries including healthcare, industrial chemicals, agriculture and academic research.
What is the ticker symbol of Twist Bioscience Corporation?
The ticker symbol of Twist Bioscience Corporation is TWST.
How many restricted stock units were granted to new hires?
Twist Bioscience Corporation granted a total of 130,400 restricted stock units to 15 recently hired individuals.
What is the vesting period for the restricted stock units?
The RSUs vest over a 48-month period for each employee, with 25% vesting on the one year anniversary of the start date of the employee and 1/16 of the RSUs vesting on each quarterly anniversary of the Vesting Commencement Date thereafter, subject to the employee’s continued service through each vesting date.
at twist bioscience, our expertise is synthetic dna. we have developed a proprietary semiconductor-based synthetic dna manufacturing process featuring a 10,000-well silicon platform capable of producing synthetic biology tools, such as oligonucleotides, genes, pathways, chassis and genomes. by synthesizing dna on silicon instead of on traditional 96-well plastic plates, our platform overcomes the current inefficiencies of synthetic dna production, and enables cost-effective, rapid, high-quality and high throughput synthetic gene production. the twist bioscience platform has the potential to greatly accelerate the development of personalized medicine, sustainable chemical production, improved agriculture production as well as new applications such as in vivo diagnostics, biodetection and data storage. for more information, please visit www.twistbioscience.com .
