On December 8, 2022 Alector, Inc. (Nasdaq: ALEC), a clinical-stage biotechnology company pioneering immuno-neurology and innate immuno-oncology, reported that on December 6, 2022, the compensation committee of Alector’s board of directors granted 8 (eight) new employees options to purchase an aggregate of 91,851 shares of the company’s common stock and restricted stock units (RSUs) for an aggregate of 40,961 shares of the company’s common stock (Press release, Alector, DEC 8, 2022, View Source [SID1234624946]). These awards are made under Alector’s 2022 Inducement Equity Incentive Plan (the "Plan").

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The stock options each have an exercise price of $9.27 per share, equal to the closing price of Alector’s common stock on December 6, 2022. The stock options each have a ten-year term and vest over a period of four years with one forty-eighth of the shares vesting each month. The RSUs vest over a period of three years with one-twelfth of the shares vesting quarterly.

The above-described awards were each granted as an inducement material to the employees entering into employment with the company in accordance with Nasdaq Listing Rule 5635(c)(4) and were granted pursuant to the terms of the Plan.