Atara Biotherapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
SOUTH SAN FRANCISCO, Calif., May 07, 2018 (GLOBE NEWSWIRE) -- Atara Biotherapeutics, Inc. (Nasdaq:ATRA), a leading off-the-shelf, allogeneic T-cell immunotherapy company developing novel treatments for patients with cancer, autoimmune and viral diseases, today reported the grant of inducement awards to Deitmar Berger effective as of May 7, 2018.
The compensation committee of Atara's board of directors granted Dr. Berger a stock option to purchase 85,000 shares of Atara’s common stock, and restricted stock units to acquire 50,000 shares of Atara’s common stock. The stock option and restricted stock units were granted as an inducement material to Dr. Berger entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).
The stock option has a seven-year term and an exercise price of $42.05, equal to the per share closing price of Atara's common stock as reported by Nasdaq on May 7, 2018. The awards vest over four years, with 25% vesting on the first anniversary of the grant date and the remainder vesting over the following three years, assuming the employee is continuously employed by Atara as of such vesting dates.
Atara is providing this information in accordance with Nasdaq Listing Rule 5635(c)(4).
About Atara Biotherapeutics, Inc.
Atara Biotherapeutics, Inc. (@Atarabio) is a leading T-cell immunotherapy company developing novel treatments for patients with cancer, autoimmune and viral diseases. The Company's off-the-shelf, allogeneic T-cells are bioengineered from donors with healthy immune function and allow for rapid delivery from inventory to patients without a requirement for pretreatment. Atara's T-cell immunotherapies are designed to precisely recognize and eliminate cancerous or diseased cells without affecting normal, healthy cells.
INVESTOR & MEDIA CONTACTS:
John Craighead, Atara Biotherapeutics
Steve Klass, Burns McClellan
Justin Jackson, Burns McClellan
Released May 7, 2018