HAYWARD, Calif.--(BUSINESS WIRE)--Pulse Biosciences, Inc. (Nasdaq: PLSE) (“Pulse Biosciences” or the “Company”) a novel bioelectric medicine company progressing Nano-Pulse Stimulation™ (NPS™) technology, today announced that the Compensation Committee of the Company’s Board of Directors granted non-qualified stock options covering an aggregate of 77,250 shares of Pulse Biosciences common stock to recently hired non-executive employees under the Pulse Biosciences 2017 Inducement Equity Incentive Plan on September 15, 2020.
The 2017 Inducement Equity Incentive Plan is used exclusively to grant equity awards to individuals who were not previously an employee or non-employee director of Pulse Biosciences as an inducement material to such individual’s entering into employment with Pulse Biosciences in accordance with Nasdaq Marketplace Rule 5635(c)(4).
The options have an exercise price of $11.67 per share, which is equal to the closing price of Pulse Biosciences common stock on September 15, 2020. The 77,250 shares underlying the option grants will vest and become exercisable as to 25% of the shares annually beginning on the first anniversary of the recipient’s start date, subject to the recipient’s continued employment with Pulse Biosciences on these vesting dates. The options are subject to the terms and conditions of the 2017 Inducement Equity Incentive Plan and the award agreements entered into with each recipient.
About Pulse Biosciences®
Pulse Biosciences is a novel bioelectric medicine company committed to health innovation that has the potential to improve and extend the lives of patients. If cleared, the CellFX® System will be the first commercial product to harness the distinctive advantages of the Company’s proprietary Nano-Pulse Stimulation™ (NPS™) technology to treat a variety of applications for which an optimal solution remains unfulfilled. Nano-Pulse Stimulation technology delivers nano-second pulses of electrical energy to non-thermally clear cells while sparing adjacent non-cellular tissue. Subject to regulatory approval, the initial commercial use of the CellFX System is expected to address a broad range of dermatologic conditions that share high demand among patients and practitioners for improved and durable aesthetic outcomes. Designed as a multi-application platform, the CellFX System is intended to offer customer value with a utilization-based revenue model across an expanding spectrum of clinical applications. To learn more please visit www.pulsebiosciences.com.
Pulse Biosciences, CellFX, Nano-Pulse Stimulation, NPS and the stylized logos are among the trademarks and/or registered trademarks of Pulse Biosciences, Inc. in the United States and other countries.
Caution: Pulse Biosciences’ CellFX System and Nano-Pulse Stimulation technology are for investigational use only.