HAYWARD, Calif.--(BUSINESS WIRE)--
Pulse Biosciences, Inc. (Nasdaq:PLSE) (“Pulse Biosciences” or the “Company”), a novel bioelectric medicine company, announced today that the Compensation Committee of the Company’s Board of Directors granted non-qualified stock options covering an aggregate of 102,500 shares of Pulse Biosciences common stock to recently hired non-executive employees under the Pulse Biosciences 2017 Inducement Equity Incentive Plan on March 16, 2020.
The 2017 Inducement Equity Incentive Plan is used exclusively to grant equity awards to individuals who were not previously an employee or non-employee director of Pulse Biosciences as an inducement material to such individual’s entering into employment with Pulse Biosciences in accordance with Nasdaq Marketplace Rule 5635(c)(4).
The options have an exercise price of $5.23 per share, which is equal to the closing price of Pulse Biosciences common stock on March 16, 2020. The 102,500 shares underlying the option grants will vest and become exercisable as to 25% of the shares annually beginning on the first anniversary of the recipient’s start date, subject to the recipient’s continued employment with Pulse Biosciences on these vesting dates. The options are subject to the terms and conditions of the 2017 Inducement Equity Incentive Plan and the award agreements entered into with each recipient.
About Pulse Biosciences
Pulse Biosciences is a novel bioelectric medicine company committed to developing innovative health products that improve and potentially extend the lives of patients. If cleared, the CellFX® System will be the first commercial product to harness the distinctive advantages of the Company’s proprietary Nano-Pulse Stimulation™ (NPS™) technology to treat a variety of applications for which an optimal solution remains unfulfilled. NPS technology delivers nano-second pulses of electrical energy to non-thermally clear cells while sparing adjacent non-cellular tissue. Subject to regulatory clearance, the initial commercial use of the CellFX System is expected to address a broad range of dermatologic conditions that share high demand among patients and practitioners for improved and durable aesthetic outcomes. Designed as a multi-application platform, the CellFX System is intended to offer customer value with a utilization-based revenue model across an expanding spectrum of clinical applications.
Pulse Biosciences, CellFX and Nano-Pulse Stimulation are trademarks of Pulse Biosciences, Inc.
Caution: Pulse Biosciences’ CellFX System and Nano-Pulse Stimulation (NPS) technology are for investigational use only.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200317005606/en/
Pulse Biosciences, Inc.
Executive Vice President and Chief Financial Officer
Philip Trip Taylor
Nadine D. Tosk
Source: Pulse Biosciences, Inc.