On December 16, 2022 Personalis, Inc. (Nasdaq: PSNL), a leader in advanced genomics for cancer, reported that the Compensation Committee of its Board of Directors granted, between the dates of December 5, 2022 and December 16, 2022, non-qualified stock options to purchase an aggregate of 35,000 shares of its common stock and restricted stock units (RSUs) covering an aggregate of 42,100 shares of its common stock to three new employees under Personalis’ 2020 Inducement Plan (Press release, Personalis, DEC 16, 2022, View Source [SID1234625368]).

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The 2020 Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously an employee, or non-employee director, of Personalis, as an inducement material to such individual’s entering into employment with Personalis, pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules. Personalis is making this announcement as required by Nasdaq rules.

The inducement stock options have an exercise price of $2.83 per share, which is equal to the closing price of Personalis’ common stock on the date of grant, December 5, 2022, and will vest over four years, with 25% of the shares vesting on the first anniversary of the grant date and 1/48th of the remaining shares vesting monthly thereafter, subject to continued service through each applicable vesting date. The RSUs will vest over four years, with 25% of the shares vesting one year after the grant date and an additional 25% of the shares vesting annually thereafter, subject to continued service through each applicable vesting date. The options and RSUs are subject to the terms and conditions of Personalis’ 2020 Inducement Plan, and the terms and conditions of the applicable award agreement covering each grant.