LA JOLLA, Calif.--(BUSINESS WIRE)--DermTech, Inc. (NASDAQ: DMTK) (“DermTech”), a leader in precision dermatology enabled by a non-invasive skin genomics platform, today announced the grant to one new employee of restricted stock units representing the contingent right to receive up to an aggregate of 51,934 shares of its common stock under its 2022 Inducement Equity Incentive Plan, or the 2022 Inducement Plan. The restricted stock units were approved by DermTech’s Compensation Committee on March 23, 2022 and granted as inducements material to the employee’s acceptance of employment with DermTech in accordance with Nasdaq Listing Rule 5635(c)(4).
The 51,934 restricted stock units shall vest as follows: (i) 1,791 restricted stock units will vest in full on March 5, 2023, subject to the employee’s continued employment with DermTech on this vesting date and (ii) twenty-five percent of the remaining 50,143 restricted stock units will vest on March 5, 2023 and seventy-five percent of the remaining 50,143 restricted stock units will vest in equal quarterly installments until fully vested on March 5, 2026, subject to the employee’s continued employment with DermTech on these vesting dates. The restricted stock units are also subject to the terms and conditions of the 2022 Inducement Plan, and the terms and conditions of the equity award agreements covering the grants.
DermTech is a leading genomics company in dermatology and is creating a new category of medicine, precision dermatology, enabled by our non-invasive skin genomics platform. DermTech’s mission is to transform dermatology with our non-invasive skin genomics platform, to democratize access to high quality dermatology care, and to improve the lives of millions. DermTech provides genomic analysis of skin samples collected non-invasively using an adhesive patch rather than a scalpel. DermTech developing and marketing novel non-invasive genomics tests to aid in the diagnosis and management of various skin conditions, including skin cancer, inflammatory diseases, and aging-related conditions. For additional information on DermTech, please visit DermTech’s investor relations site at: www.DermTech.com.