Full Press Release Details
DUBLIN, Ireland, April 03, 2020 (GLOBE NEWSWIRE) -- Prothena Corporation plc (NASDAQ:PRTA), a clinical-stage neuroscience company with expertise in protein misfolding, today announced that in connection with hiring an executive on March 30, 2020, the compensation committee of the Company’s board of directors granted the individual hired by Prothena an option to purchase 120,000 shares of the Company’s common stock. The stock option has an exercise price per share equal to $10.99, which was the closing trading price on April 1, 2020, the date of the grant. The inducement award will vest over four years, with 25% of the underlying shares vesting on the one-year anniversary of the date of grant and 1/48th of the underlying shares vesting monthly thereafter over 36 months. The stock option was granted pursuant to the Company’s 2020 Employment Inducement Incentive Plan, which was approved by the Company’s board of directors under Rule 5635(c)(4) of The Nasdaq Global Market for equity grants to induce new employees to enter into employment with the Company.
Media and Investor Contact:
Ellen Rose, Head of Communications
650-922-2405, ellen.rose@prothena.com