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Wednesday, Feb 28, 2024

Atara Biotherapeutics Reports Inducement Grant

Immunotherapy developer Atara Biotherapeutics has reported an inducement grant of 33,150 restricted stock units of its common stock to five newly hired employees.

The Thousand Oaks company also reported stock options to purchase an aggregate of 13,375 shares of its common stock to one newly hired employee. Both awards were granted under the company’s 2018 inducement plan and approved by the compensation committee of Atara’s board of directors.

The restricted stock units are provided to employees in a span of four years, with the first 25% being provided on the first quarterly vesting date and the remaining 12 payments being dispersed in the following three years.

The stock options are provided in the span of four years but have 36 equal monthly installments occurring for the remainder of the period after the initial vesting date is reached. The options also have a ten-year term and an exercise price of $4.40, equal to the per share closing price of Atara’s common stock as reported on December 1, 2022.

Shares of Atara closed up 36 cents, or more than 8%, to bring the company’s stock to $4.76 on Friday, a day when the market closed down slightly less than a percent.

Hannah Madans Welk
Hannah Madans Welk
Hannah Madans Welk is Interim Editor at the Los Angeles Business Journal and the Inside The Valley. She previously covered real estate for the Los Angeles Business Journal. She has done work with publications including The Orange County Register, The Real Deal and doityourself.com.

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