Guardant Health, Inc. (Nasdaq: GH), a prominent player in precision oncology, disclosed today that its Compensation Committee, on April 22, 2024, sanctioned the allocation of restricted stock units (“RSUs”) corresponding to 215,601 shares of its common stock for 94 newly appointed non-executive staff, and non-qualified stock option awards enabling the purchase of a total of 98,076 shares of its common stock for three new non-executive employees. These grants were effective as of May 13, 2024, under the Guardant Health, Inc., 2023 Employment Inducement Incentive Award Plan (the “Inducement Plan”). The issuance of RSUs and stock options served as significant inducements for the recruited employees, in compliance with Nasdaq Listing Rule 5635(c)(4).
The Inducement Plan is dedicated exclusively to providing equity incentives to individuals who were not previously associated with Guardant as employees, or who, after a genuine period of non-employment, were induced to join Guardant, as per Nasdaq Listing Rule 5635(c)(4).
Under the RSU arrangement, one-third of the shares underlying each RSU award will vest annually on the anniversary of the commencement date of vesting, contingent upon the employees’ continuous tenure with Guardant on each vesting date. The RSUs are subject to the terms and conditions outlined in the Inducement Plan and the respective RSU award agreements.
Regarding the stock options, all options carry an exercise price of $24.00 per share, mirroring the closing price of Guardant’s common stock on The Nasdaq Global Select Market on May 13, 2024. Vesting for one-third of the shares underlying each stock option will occur on the first anniversary of the commencement date of vesting, with subsequent monthly vesting over 24 months, contingent upon the employees’ uninterrupted service with Guardant on each vesting date. The stock options are governed by the terms and conditions laid out in the Inducement Plan and the corresponding stock option award agreements.
