NanoString Reports Inducement Grants Under Nasdaq Listing Rules - NanoString Technologies (NASDAQ:NSTG)
NanoString Technologies, Inc. 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 23 new employees.
In accordance with Nasdaq Listing Rule 5635(c)(4), on June 6, 2023, the Compensation and Human Capital Committee of NanoString's Board of Directors approved the grant of, in the aggregate, 159,410 restricted stock units, or RSUs, as material inducements to the 23 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.