Prothena Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Feb 03, 2023

Prothena Corporation plc (NASDAQ:PRTA), a late-stage clinical biotechnology company with a robust pipeline of novel investigational therapeutics built on protein dysregulation expertise, today announced that in connection with hiring a new employee, the compensation committee of the Company’s board of directors granted the individual hired by the Company an option to purchase 85,000 ordinary shares of the Company. The option has an exercise price per share equal to $53.67, which was the closing trading price on February 1, 2023, the date of the grant. The option 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 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.

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