Adicet Bio Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4) - December 30, 2022

30 Dec 2022
www.biospace.com
Cell TherapyClinical ResultImmunotherapy
REDWOOD CITY, Calif. & BOSTON--(BUSINESS WIRE)-- Adicet Bio, Inc. (Nasdaq: ACET), a clinical stage biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer, today announced it granted inducement awards on December 30, 2022. Two individuals hired by Adicet in December 2022 received, in the aggregate, non-qualified stock options to purchase 47,200 shares of Adicet’s common stock with an exercise price of $8.94 per share, the closing price of Adicet’s common stock as reported by Nasdaq on December 30, 2022. One-fourth of the shares underlying each employee’s option will vest on the one-year anniversary of each recipient’s start date and thereafter the remaining three-fourths of the shares underlying each employee’s option will vest in thirty-six substantially equal monthly installments, such that the shares underlying the option granted to each employee will be fully vested on the fourth anniversary of the recipient’s start date, in each case, subject to each such employee’s continued employment with Adicet on such vesting dates. All of the above-described awards were granted outside of Adicet’s stockholder-approved equity incentive plans pursuant to Adicet’s 2022 Inducement Plan (the Inducement Plan), which was adopted by the board of directors in January 2022. The awards were authorized by the compensation committee of the board of directors, which is comprised solely of independent directors, as a material inducement to the employees entering into employment with Adicet in accordance with Nasdaq Listing Rule 5635(c)(4). About Adicet Bio, Inc. Adicet Bio, Inc. is a clinical stage biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer. Adicet is advancing a pipeline of “off-the-shelf” gamma delta T cells, engineered with chimeric antigen receptors (CARs) and adaptors (CAds), to enhance selective tumor targeting and facilitate innate and adaptive anti-tumor immune response for durable activity in patients. For more information, please visit our website at . View source version on businesswire.com: Contacts Adicet Bio., Inc. Investor and Media Contacts Anne Bowdidge abowdidge@adicetbio.com Janhavi Mohite Stern Investor Relations, Inc. 212-362-1200 janhavi.mohite@sternir.com Source: Adicet Bio, Inc. View this news release online at:
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