Lifecore Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

May 22, 2024

https://www.globenewswire.com/news-release/2024/05/22/2886871/23089/en/Lifecore-Announces-Inducement-Grants-Under-Nasdaq-Listing-Rule-5635-c-4.html

CHASKA, Minn., May 22, 2024 (GLOBE NEWSWIRE) — Lifecore Biomedical, Inc. (NASDAQ:LFCR) (“Lifecore” or the “Company”), a fully integrated contract development and manufacturing organization, today announced that Lifecore has granted a restricted stock unit (“RSU”) award with respect to 525,000 shares of its common stock and a performance stock unit (“PSU”) award for up to 1,500,000 shares of its common stock to Paul Josephs, Lifecore’s newly hired President and Chief Executive Officer. The RSU award and PSU award were granted May 20, 2024 pursuant to the Company’s previously-announced offer letter with Mr. Josephs, and as a material inducement to Mr. Josephs joining Lifecore as President and Chief Executive Officer.

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