ProPhase Labs Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
Garden City, NY, April 01, 2024 (GLOBE NEWSWIRE) — ProPhase Labs, Inc. (NASDAQ:PRPH) (“ProPhase” or the “Company”), a next-generation biopharma, genomics, and diagnostics company, today announced that it has granted an inducement stock option to purchase up to 50,000 shares of the Company’s common stock to Lance Bisesar, who recently joined the Company as Controller. This award was made in accordance with the employment inducement award exemption provided by Nasdaq Rule 5635(c)(4) and was therefore not awarded under the Company’s stockholder approved equity plan. The option award will vest as follows, contingent upon continued service: 25% will vest on each of the next four anniversaries of the grant date. The options will have a strike price of $6.20 per share and will be exercisable for a period of 7 years.