HAYWARD, Calif.--(BUSINESS WIRE)--
Pulse Biosciences, Inc. (NASDAQ: PLSE), a medical technology company developing a proprietary therapeutic tissue treatment based on its Nano-Pulse Stimulation (NPS) platform, today announced that the Compensation Committee of the company’s Board of Directors granted non-qualified stock options to purchase an aggregate of 121,000 shares of Pulse Biosciences common stock to seven (7) new employees under Pulse Biosciences, Inc. 2017 Inducement Equity Incentive Award Plan.
The 2017 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 $24.78 per share, which is equal to the closing price of Pulse Biosciences common stock on December 15, 2017. Each option 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, subject to each employee’s continued employment with Pulse Biosciences on these vesting dates. The options are subject to the terms and conditions of Pulse Bioscience’s 2017 Employment Inducement Equity Incentive Award Plan, and the award agreements entered into with each recipient.
About Pulse Biosciences
Pulse Biosciences is a medical technology company developing a therapeutic tissue treatment platform based on Nano-Pulse Stimulation (NPS), a proprietary high-speed cell signaling technology. NPS is a non-thermal, precise, focal drug-free tissue treatment technology that directly affects the cell membrane and intracellular structures to stimulate unique behaviors in cells. NPS can initiate a cell death process. That process provides a means for the treatment of tissue cells with minimal inflammatory response. This has the potential to improve healing outcomes. This process may also contribute to the replacement of treated tissue cells with healthy new tissue cells. In cancerous lesions, NPS has been shown in preclinical models to induce immunogenic cell death (ICD) exposing the unique antigens of the treated cells to the immune system, resulting in the generation of cytotoxic T-cells and the mounting of an adaptive immune response targeted against those cells. Pulse Biosciences is investigating a variety of applications for its technology that exploits the technology’s unique biologic effect. More information is available at www.pulsebiosciences.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171215005884/en/
