( MENAFN - PR Newswire) LAUSANNE, Switzerland, Nov. 1, 2024 /PRNewswire/ -- ADC Therapeutics SA (NYSE: ADCT ), a commercial-stage global leader and pioneer in the field of antibody drug conjugates (ADCs), today announced that the Company has made grants of options to purchase an aggregate of 42,000 of the Company's common shares to two new employees on November 1, 2024 (each, a "Grant"). The Grants were offered as material inducement to the employees' employment.
The grants were approved by the Compensation Committee of the Company's Board of Directors pursuant to the Company's Inducement Plan to motivate and reward the recipients to perform at the highest levels and contribute significantly to the success of the Company. The Grants were made in reliance on the employment inducement exemption under the NYSE's Listed Company Manual Rule 303A.08.
The Company is issuing this press release pursuant to Rule 303A.08. The Grants shall vest and become exercisable 25% on the first anniversary of the grant date, and 1/48th of the aggregate number of shares subject to the award on each monthly anniversary of the grant date thereafter, such that the entire award will be vested as of the fourth anniversary of the grant date, subject to continued employment with the Company.
About ADC Therapeutics ADC Therapeutics (NYSE: ADCT ) is a commercial-stage global leader and pioneer in the field of antibody drug conjugates (ADCs). The Company is advancing its proprietary ADC technology to transfor.
