MADISON, Wis.--(BUSINESS WIRE)--Exact Sciences Corp. (NASDAQ: EXAS) today announced that, in support of the Company’s continued growth plans, the Compensation Committee of the Company’s Board of Directors has approved the reservation of 315,000 shares of common stock to be used exclusively for the grant of equity awards to individuals who were not previously employees of the Company (or following a bona fide period of non-employment), as an inducement equity award material to an individual’s entry into employment with the Company within the meaning of Rule 5645(c)(4) of the NASDAQ Listing Rules. The inducement grant program will terminate on the date of the Company’s 2015 Annual Stockholders’ Meeting. The Company is making this announcement as required by NASDAQ rules.
On February 25, 2015, Exact Sciences granted restricted stock units covering a total of 133,154 shares of common stock to 66 new non-executive employees under the inducement grant program. The restricted stock unit awards vest in four equal annual installments beginning on the first anniversary of the grant date.
About Exact Sciences
Exact Sciences Corp. is a molecular diagnostics company focused on colorectal cancer. The company has exclusive intellectual property protecting its non-invasive, molecular screening technology for the detection of colorectal cancer. Stool-based DNA technology is included in the colorectal cancer screening guidelines of the American Cancer Society and the U.S. Multi-Society Task Force on Colorectal Cancer. For more information, please visit the company’s website at www.exactsciences.com.
