Full Press Release Details
Standard BioTools Appoints Jeffrey Black
as Chief Financial Officer and
Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Industry veteran Jeffrey Black brings
30 years of financial and operating leadership experience
Vikram Jog to become Special Advisor
for transition period
SOUTH SAN FRANCISCO, Calif., May 15, 2023 - Standard BioTools Inc. (Nasdaq:
LAB), driven by a bold purpose - Unleashing tools to accelerate breakthroughs in human health -announced the appointment
of Jeffrey Black as Senior Vice President and Chief Financial Officer effective today. Black will lead Standard BioTools' finance,
accounting and investor relations functions, reporting to Michael Egholm, PhD., President and Chief Executive Officer. Vikram Jog will
remain at the company for a period as Special Advisor to the CEO to ensure an effective transition.
"We are excited to welcome Jeff to the Standard BioTools executive
leadership team. Jeff has a proven track record of driving performance for high-growth public companies and his extensive operating experience
and financial stewardship will be critical as Standard BioTools enters its next phase of growth," said Egholm. "I also want
to extend my gratitude to Vikram, who has been a steady hand and clear thinker as we navigated the strategic transformation throughout
our first year as Standard BioTools."
Mr. Black was most recently Chief Financial Officer at Apollo Endosurgery,
Inc. until Apollo's acquisition by Boston Scientific in April 2023. Mr. Black has also served in senior finance leadership roles
for seven publicly traded companies, including as Executive Vice President and Chief Financial Officer of Alphatec Holdings, Inc., a medical
technology company. Previously, Mr. Black was Chief Financial Officer of Applied Proteomics, Inc., a proteomics-based diagnostics company,
and as Chief Financial Officer of AltheaDx, Inc., a pharmacogenetics diagnostics company. Mr. Black began his career in the audit practice
at EY. He is a member of the Board of Directors of Cellana, Inc., an algae bioproducts company, and received his B.S. in Business from
the University of Arizona.
"I am thrilled to join this high-caliber leadership team and dynamic
organization," said Black. "This team is building an exceptional company that will be the next great provider of solutions
to researchers around the world. There is a tremendous opportunity ahead to greatly impact patient lives and unlock shareholder value.
I am delighted to be a part of Standard BioTools as it continues to execute on its mission."
As a material inducement for Mr. Black
to commence employment with Standard BioTools, on May 15, 2023, Mr. Black will receive an award of non-statutory stock options to purchase
400,000 shares of the Company's common stock ("Option Award"). The Option Award will have a 10-year term and an exercise
price per share equal to the closing price of the company's common stock as quoted on the Nasdaq Global Select Market on May 15,
2023. Subject to his
continued employment with the company through the applicable vesting dates, 25% of the shares subject to the Option
Award will vest on the first anniversary of the vesting commencement date, and the remaining 75% of the shares subject to the Option Award
will vest in roughly equal monthly installments thereafter. In addition, as a material inducement for Mr. Black to commence employment
with the company, on May 15, 2023 he will receive an award of restricted stock units valued at $400,000 ("RSU Award") based
on the closing price of the company's common stock on May 15, 2023. Subject to his continued employment with the company,
25% of the shares underlying the RSU Award will vest on the first anniversary of the vesting commencement date and the remaining 75% of
the shares underlying the RSU Award will vest in roughly equal installments every three months thereafter until fully vested in May 2027.
The Option Award and RSU Award will be subject to the terms of the company's 2022 Inducement Equity Incentive Plan and the applicable
award agreements thereunder. In accordance with Nasdaq Listing Rule 5635(c)(4), a majority of the independent directors serving on the
company's Board of Directors approved Mr. Black's inducement awards.
About Standard BioTools Inc.
Inc. (Nasdaq: LAB), previously known as Fluidigm Corporation, is driven by a bold purpose - Unleashing tools to accelerate
breakthroughs in human health. Standard BioTools has an established portfolio of essential, standardized next-generation technologies
that help biomedical researchers develop medicines faster and better. As a leading solutions provider, the company provides reliable
and repeatable insights in health and disease using its proprietary mass cytometry and microfluidics technologies, which help transform
scientific discoveries into better patient outcomes. Standard BioTools works with leading academic, government, pharmaceutical, biotechnology,
plant and animal research, and clinical laboratories worldwide, focusing on the most pressing needs in translational and clinical research,
including oncology, immunology, and immunotherapy. Learn more at www.standardbio.com or connect with us on Twitter ,
Facebook , LinkedIn,
and YouTube . Standard BioTools, the Standard BioTools
logo, Fluidigm, the Fluidigm logo, "Unleashing tools to accelerate breakthroughs in human health," Hyperion, Hyperion XTi,
XTi, and X9 are trademarks and/or registered trademarks of Standard BioTools Inc. or its affiliates in the United States and/or
other countries. All other trademarks are the sole property of their respective owners. Standard BioTools products are provided
for Research Use Only. Not for use in diagnostic procedures.
Available Information
Standard BioTools uses
its website (standardbio.com), investor site (investors.standardbio.com),
corporate Twitter account (@Standard_BioT), Facebook page
(facebook.com/StandardBioT), and LinkedIn page (linkedin.com/company/standard-biotools)
as channels of distribution of information about its products, its planned financial and other announcements, its attendance at upcoming
investor and industry conferences, and other matters. Such information may be deemed material information, and Standard BioTools may
use these channels to comply with its disclosure obligations under Regulation FD. Therefore, investors should monitor Standard BioTools'
website and its social media accounts in addition to following its press releases, SEC filings, public conference calls, and
Scott R. Greenstone, CFA