Talis Biomedical Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
MENLO PARK, Calif., Dec. 02, 2021 (GLOBE NEWSWIRE) — Talis Biomedical Corporation (Nasdaq: TLIS), a company dedicated to advancing health equity and outcomes through the delivery of accurate infectious disease testing in the moment of need, at the point of care (the “Company”), announced that the Company’s Board of Directors has granted an inducement award to Brian Blaser, the Company’s newly appointed Chief Executive Officer. The inducement award was granted pursuant to the Company’s 2021 Inducement Plan (the “Inducement Plan”) as an inducement material to Mr. Blaser entering into employment with the Company, in accordance with Nasdaq Listing Rule 5635(c)(4).
The inducement award is comprised of (i) a stock option award covering 638,144 shares of the Company’s common stock with per share exercise price equal to the fair market value of the Company’s common stock on the grant date and will be subject to vesting over five years, with 20% of the shares vesting on the one year anniversary of Mr. Blaser’s start date, and the remainder vesting monthly over the following forty-eight (48) months, subject to his continued employment and the terms and conditions of the stock option agreement, and (ii) a restricted stock unit award covering 625,000 shares of the Company’s common stock and will be subject to vesting over five years, with 20% of the shares vesting on the one year anniversary of Mr. Blaser’s start date, and the remainder vesting in a series of four equal successive annual installments on the second, third, fourth and fifth anniversaries of his start date, subject to his continued employment and the terms and conditions of the restricted stock unit award agreement.
About Talis Biomedical
Talis is dedicated to advancing health equity and outcomes through the delivery of accurate infectious disease testing in the moment of need, at the point of care. The company plans to develop and commercialize innovative products on its sample-to-answer Talis One system to enable accurate, low cost, and rapid molecular testing. The U.S. Food and Drug Administration (FDA) has granted Emergency Use Authorization (EUA) for use of the Talis One COVID-19 Test System in a variety of healthcare settings. For more information, visit talisbio.com.
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