SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--Atara Biotherapeutics, Inc. (Nasdaq: ATRA), a leading off-the-shelf, allogeneic T-cell immunotherapy company developing novel treatments for patients with cancer, autoimmune and viral diseases, today reported the grant of inducement awards to Amar Murugan, its Senior Vice President, General Counsel.
The compensation committee of Atara’s Board of Directors granted Mr. Murugan a stock option to purchase 110,000 shares of Atara’s common stock effective as of April 20, 2020, and restricted stock units to acquire 55,000 shares of Atara’s common stock effective as of April 20, 2020. The stock option and restricted stock units were granted as an inducement material to Mr. Murugan entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).
The stock option has a ten-year term and an exercise price of $8.20, equal to the per share closing price of Atara's common stock as reported by Nasdaq on April 20, 2020. The awards vest over four years, with 25 percent vesting on the first anniversary of the grant date and the remainder vesting over the following three years, assuming Mr. Murugan is continuously employed by Atara as of such vesting dates.
Atara is providing this information in accordance with Nasdaq Listing Rule 5635(c)(4).
About Atara Biotherapeutics, Inc.
Atara Biotherapeutics, Inc. (@Atarabio) is a leading off-the-shelf, allogeneic T-cell immunotherapy company developing novel treatments for patients with cancer, autoimmune and viral diseases. Atara’s technology platform leverages research collaborations with leading academic institutions with the Company’s scientific, clinical, regulatory and manufacturing expertise. Atara’s pipeline includes tab-cel® (tabelecleucel), which is in Phase 3 development for patients with Epstein-Barr virus-associated post-transplant lymphoproliferative disease (EBV+ PTLD) as well as in earlier stage development for other EBV-associated hematologic malignancies and solid tumors, including nasopharyngeal carcinoma (NPC); T-cell immunotherapies targeting EBV antigens believed to be important for the potential treatment of multiple sclerosis; and next-generation chimeric antigen receptor T-cell (CAR T) immunotherapies. The company was founded in 2012 and is co-located in South San Francisco and Southern California. Our Southern California hub is anchored by its manufacturing facility in Thousand Oaks, California. For additional information about the company, please visit atarabio.com.