SOUTH SAN FRANCISCO, Calif., June 25, 2019 (GLOBE NEWSWIRE) -- Atara Biotherapeutics, Inc. (ATRA), a leading off-the-shelf, allogeneic T-cell immunotherapy company developing novel treatments for patients with cancer, autoimmune and viral diseases, today reported the grant of inducement awards to its President and Chief Executive Officer, Pascal Touchon, effective as of June 24, 2019.
The compensation committee of Atara's board of directors granted Dr. Touchon a stock option to purchase 225,000 shares of the company’s common stock and restricted stock units to acquire 140,074 shares of Atara’s common stock. The stock option and restricted stock units were granted as an inducement material to Dr. Touchon entering into employment with the company in accordance with Nasdaq Listing Rule 5635(c)(4).
The stock option has a ten-year term and an exercise price of $20.43, equal to the per share closing price of Atara's common stock as reported by Nasdaq on June 24, 2019. 27,574 of the shares subject to restricted stock units will vest in full on the seven month anniversary of Dr. Touchon’s start date, subject to his continuous employment by Atara on such vesting date. The remaining restricted stock units and the options vest over four years, with 25% vesting on the first anniversary of the grant date and the remainder vesting over the following three years, assuming Dr. Touchon is continuously employed by Atara as of such vesting dates.
Atara is providing this information in accordance with Nasdaq Listing Rule 5635(c)(4).
About Atara Biotherapeutics, Inc.
Atara Biotherapeutics, Inc. (@Atarabio) is a leading off-the-shelf, allogeneic T-cell immunotherapy company developing novel treatments for patients with cancer, autoimmune and viral diseases. Atara’s technology platform leverages research collaborations with leading academic institutions with the company’s scientific, clinical, regulatory and manufacturing expertise. Atara’s pipeline includes tab-cel® (tabelecleucel), which is in Phase 3 development for patients with Epstein-Barr virus-associated post-transplant lymphoproliferative disorder (EBV+ PTLD) as well as in earlier stage development for other EBV-associated hematologic malignancies and solid tumors, including nasopharyngeal carcinoma (NPC); T-cell immunotherapies targeting EBV antigens believed to be important for the potential treatment of multiple sclerosis; and next-generation chimeric antigen receptor T-cell (CAR T) immunotherapies. The company was founded in 2012 and is co-located in South San Francisco and Southern California. Our Southern California hub is anchored by the state-of-the-art Atara T-cell Operations and Manufacturing (ATOM) facility in Thousand Oaks, California. For additional information about the company, please visit atarabio.com.
INVESTOR & MEDIA CONTACTS:
John Craighead, Atara Biotherapeutics
John Grimaldi, Burns McClellan
Nancie Steinberg, Burns McClellan