OREANDA-NEWS. August 08, 2016. Cytori
Therapeutics, Inc. (NASDAQ:CYTX), a late stage cell therapy company
developing autologous cell therapies from adipose tissue to treat a
variety of medical conditions, announced today that the Compensation
Committee of the Company's Board of Directors granted to
Mark Marino,
M.D., Senior Vice President of Clinical Affairs, a non-qualified stock
option to purchase an aggregate of 33,333 shares of the Company's common
stock (the “Option Shares”) with a per share exercise price of \\$2.18,
the closing price of Cytori’s common stock on August 4th,
2016, the date of the grant. The stock option has a ten-year term and
vests over a period of four years, with one quarter of the Option Shares
scheduled to vest on May 23, 2017 (the first anniversary of Dr. Marino’s
employment commencement date with Cytori), and the remainder of the
Option Shares vesting over the ensuing three years in thirty-six (36)
equal, consecutive, monthly installments, in each case subject to Dr.
Marino’s continued employment with Cytori as of the respective vesting
dates. The stock option is subject to the terms and conditions of
Cytori's 2015 New Employee Incentive Plan and the stock option agreement
pursuant to which the stock option is granted.
The stock option was granted as an inducement material to Dr. Marino’s
entering into employment with Cytori in accordance with NASDAQ Listing
Rule 5635(c)(4).
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