TUCSON, Ariz., May 24, 2019 (GLOBE NEWSWIRE) -- HTG Molecular Diagnostics, Inc. (Nasdaq: HTGM) (HTG), a diagnostic company whose mission is to advance precision medicine, today announced that on May 22, 2019 the Compensation Committee of its Board of Directors granted inducement stock options to purchase an aggregate of 60,000 shares of common stock to five new employees.
Each stock option has an exercise price of $2.26 per share, HTG’s closing trading price on the grant date, and vests over approximately four years, with 1/4th of the shares vesting on the one-year anniversary of the applicable vesting commencement date and the balance of the shares shall vesting in a series of 12 successive equal quarterly installments on the last day of each calendar quarter, commencing with the last day of the calendar quarter first occurring after the one-year anniversary of the applicable vesting commencement date, subject to the new employee's continued service relationship with HTG through the applicable vesting dates. Each stock option also has a 10-year term and is subject to the terms and conditions of HTG’s 2014 Equity Incentive Plan, as amended, and its standard form of agreement for inducement grants of nonstatutory stock options.
The stock options were granted as inducements material to the new employees entering into employment with HTG in accordance with Nasdaq Listing Rule 5635(c)(4).
HTG is focused on NGS-based molecular profiling. The company’s proprietary HTG EdgeSeq technology automates complex, highly multiplexed molecular profiling from solid and liquid samples, even when limited in amount. HTG’s customers use its technology to identify biomarkers important for precision medicine, to understand the clinical relevance of these discoveries, and ultimately to identify treatment options. The company’s mission is to empower precision medicine at the local level.
Ashley R. Robinson
LifeSci Advisors, LLC
Phone: (617) 535-7742
Source: HTG Molecular Diagnostics, Inc.