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BETHLEHEM, Pa., June 08, 2022 (GLOBE NEWSWIRE) -- OraSure Technologies, Inc. (NASDAQ: OSUR), a global leader in point-of-care and home diagnostic testing and sample collection technologies, announced today that on June 4, 2022, OraSure’s Board of Directors granted Carrie Eglinton Manner, the Company’s newly appointed President and Chief Executive Officer, an inducement award. The award comprised of (i) a restricted stock award for 814,830 shares of the Company’s common stock, which will vest in full on June 4, 2024, (ii) a restricted stock award for 325,932 shares of the Company’s common stock, which will vest in three equal annual installments, beginning on June 4, 2023, and on each anniversary thereafter over the next two years, and (iii) a performance restricted stock unit award for a target amount of 325,932 shares of the Company’s common stock, which will vest in three equal annual installments, beginning on June 4, 2023, and on each anniversary thereafter over the next two years, subject to the achievement of the performance conditions set forth in the applicable award agreement, and in each case, subject to Ms. Manner’s continued employment through each of the relevant vesting dates.
The inducement award was granted pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules as an inducement material to Ms. Eglinton Manner entering into employment with the Company.
About OraSure Technologies
OraSure Technologies empowers the global community to improve health and wellness by providing access to accurate, essential information. OraSure, together with its wholly-owned subsidiaries, DNA Genotek, Diversigen, and Novosanis, provides its customers with end-to-end solutions that encompass tools, services and diagnostics. The OraSure family of companies is a leader in the development, manufacture, and distribution of rapid diagnostic tests, sample collection and stabilization devices, and molecular services solutions designed to discover and detect critical medical conditions. OraSure’s portfolio of products is sold globally to clinical laboratories, hospitals, physician’s offices, clinics, public health and community-based organizations, research institutions, government agencies, pharma, commercial entities and direct to consumers. For more information on OraSure Technologies, please visit www.orasure.com.
Interim CFO & SVP Investor Relations & Corp. Communications
Sr. Mgr. Corporate Communications