HAYWARD, Calif.--(BUSINESS WIRE)--May 16, 2018--
Pulse Biosciences, Inc. (NASDAQ: PLSE) (the “Company” or “Pulse
Biosciences”), a medical technology company developing a proprietary
therapeutic tissue treatment based on its Nano-Pulse Stimulation (NPS)
platform, announced today that the Compensation Committee of the
Company’s Board of Directors (the “Board”) granted non-qualified stock
options covering an aggregate of 102,000 shares of Pulse Biosciences
common stock to three new employees under the Pulse Biosciences 2017
Inducement Equity Incentive Plan on May 15, 2018.
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 $15.45 per share, which is equal
to the closing price of Pulse Biosciences common stock on May 15, 2018.
59,500 shares underlying the option grants will vest and become
exercisable as to 25% of the shares on the first anniversary of the
recipient’s start date, and will vest and become exercisable as to the
remaining 75% of the shares in 36 equal monthly installments following
the first anniversary of the recipient’s start date, subject to the
recipient’s continued employment with Pulse Biosciences on these vesting
dates. The remaining 42,500 shares underlying the option grants will
vest and become exercisable upon the achievement of certain performance
objectives, with vesting targets of no less than 25% per year upon
achievement of the performance objectives established each year in good
faith by the Compensation Committee of the Board. 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 clinical stage electroceutical, an electrical
energy based therapeutic, company pursuing commercial applications of
its proprietary Nano-Pulse Stimulation (NPS) technology. NPS is a
non-thermal, precise, focal, drug-free tissue treatment technology
utilizing nanosecond (billionth of a second) range pulsed electric
fields that directly affect the cell membrane and intracellular
structures and initiates programmed cell death in treated cells. The
unique ability of NPS to initiate cell death has the potential to
significantly benefit patients in a wide variety of medical applications
including applications in immuno-oncology and dermatology, and other
potential applications we may pursue in the future. The initiation of
programmed cell death by NPS results in a minimal inflammatory response,
which improves healing outcomes and supports the replacement of treated
tissue cells with healthy tissue cells. In cancerous lesions, NPS has
been shown in preclinical models to induce immunogenic cell death (ICD),
which exposes the unique antigens of the treated cells to the immune
system and enrolls immune system cells, such as cytotoxic T-cells to
mount an adaptive immune response. Pulse Biosciences is investigating a
variety of applications for its technology that exploits the
technology’s unique biologic effect, including immuno-oncology and
dermatology. More information is available at www.pulsebiosciences.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180516006053/en/
Source: Pulse Biosciences, Inc.
Investor Relations:
Pulse Biosciences, Inc.
Brian Dow
Sr.
Vice President and Chief Financial Officer
IR@pulsebiosciences.com
or
Solebury
Trout
Gitanjali Jain Ogawa, 646-378-2949
gogawa@troutgroup.com
or
Media:
Sam
Brown, Inc.
Christy Curran, 615-414-8668
christycurran@sambrown.com
