REDWOOD CITY, Calif. & BOSTON–(BUSINESS WIRE)–Adicet Bio, Inc. (Nasdaq: ACET), a clinical biotechnology company that discovers and develops allogeneic gamma delta T cell therapies for autoimmune diseases and cancer, today announced that it has received a December 31, 2024 incentive award.
Adicet hired one individual in December 2024 and granted him non-qualified stock options to purchase 9,000 shares of Adicet with an exercise price of $0.96 per share, the closing price of Adicet common stock as reported by Nasdaq on December 31, 2024. One one-quarter of the shares underlying the employee option will vest one year after the recipient’s start date, and thereafter the remaining three-quarters of the shares underlying the employee option will vest in thirty-six substantially equal monthly installments such that the shares underlying the option granted to the employee will vest in full on the fourth anniversary of the recipient’s commencement date, provided the employee has continued employment with Adicet on such vesting dates.
The award described above was granted outside of Adicet’s stockholder incentive plans pursuant to Adicet’s 2022 Incentive Plan (Incentive Plan), which was adopted by the board of directors in January 2022 and subsequently amended in January 2023. The award was approved by the compensation committee of the board of directors. to the board, which consists exclusively of independent directors, as a material incentive to an employee who employs Adicet in accordance with the Nasdaq listing rule 5635(c)(4).
About Adicet Bio, Inc.
Adicet Bio, Inc. is a clinical biotechnology company that discovers and develops allogeneic gamma delta T cell therapies for autoimmune diseases and cancer. Adicet is advancing a line of off-the-shelf gamma delta T cells engineered with chimeric antigen receptors (CARs) to facilitate long-term patient activity. For more information, visit our website at https://www.adicetbio.com.
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Adicet Bio, Inc.
Contacts with investors and the media
Investors:
Anne Bowdidge
abowdidge@adicetbio.com
Janhavi Mohit
Accuracy of AQ
212-362-1200
janhavi.mohite@precisionaq.com
Media:
Kerry Beth Daly
kbdaly@adicetbio.com
Source: Adicet Bio, Inc.
