REDWOOD CITY, Calif. & BOSTON–(BUSINESS WIRE)–Adicet Bio, Inc. (Nasdaq: ACET), a clinical-stage biotechnology company that discovers and develops allogeneic CAR gamma delta T-cell therapies for cancer, announced today that it has awarded incentive awards on July 29, 2022 (the “Award Date”) under the Adicet 2022 Incentive Plan as a material employment incentive for seven individuals hired by Adicet in July 2022.
Employees received, in aggregate, unskilled Values options for purchase 87,000 ordinary shares of Adicet Values with an exercise price of $16.89 per share, the closing price of Adicet common stock as reported by Nasdaq on July 29, 2022. One-fourth of the shares underlying each employee’s option will vest on the first 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 vested in full on the fourth anniversary of the recipient’s commencement date, in each case, subject to each employee’s continued employment with Adicet on such vesting dates.
All awards described above were awarded outside of the capital incentive plans approved by Adicet shareholders pursuant to the Adicet 2022 Incentive Plan, which was adopted by the board of directors in January 2022. The awards were authorized by the committee board compensation. , which is comprised solely of independent directors, as a material incentive for employees to join Adicet in accordance with Nasdaq Listing Rule 5635(c)(4).
About Adicet Bio, Inc.
Adicet Bio, Inc. is a clinical-stage biotechnology company that discovers and develops allogeneic gamma delta T-cell therapies for cancer. Adicet is advancing in an “off-the-shelf” Gamma delta T cells, engineered with chimeric antigen receptors and T-cell receptor-like antibodies to enhance selective tumor targeting, facilitate innate and adaptive antitumor immune responses, and enhance persistence for long-lasting activity in patients.
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