SAN DIEGO, April 11, 2023 /PRNewswire/ -- Poseida Therapeutics, Inc. (Nasdaq: PSTX), a clinical-stage cell and gene therapy company advancing a new class of treatments for patients with cancer and rare diseases, today announced that the Compensation Committee of its Board of Directors granted an inducement award to Kristin Yarema, the Company's new President, Cell Therapy. This grant is made pursuant to the Company's 2022 Inducement Plan as an inducement material to Ms. Yarema entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).
The inducement award is comprised of (i) a stock option to purchase 498,325 shares of the Company's common stock with a per share exercise price equal to the fair market value of the Company's common stock on the grant date and will be subject to vesting over four years, with 12.5% of the shares vesting on the six-month anniversary of the grant date, and the remainder vesting monthly over the following forty-two (42) months, subject to Ms. Yarema's continued employment and the terms and conditions of the stock option agreement; and (ii) a restricted stock unit award covering 356,836 shares of the Company's common stock and will be subject to vesting over four years, with 25% of the shares vesting on the one year anniversary of the grant date, and the remainder vesting in a series of three equal successive annual installments on the second, third, and fourth anniversaries of the grant date, subject to Ms. Yarema's continued employment and the terms and conditions of the restricted stock unit award agreement.
About Poseida Therapeutics, Inc.
Poseida Therapeutics is a clinical-stage biopharmaceutical company advancing differentiated cell and gene therapies with the capacity to cure certain cancers and rare diseases. The Company's pipeline includes allogeneic CAR-T cell therapy product candidates for both solid and liquid tumors as well as in vivo gene therapy product candidates that address patient populations with high unmet medical need. The Company's approach to cell and gene therapies is based on its proprietary genetic editing platforms, including its non-viral piggyBac® DNA Delivery System, Cas-CLOVER™ Site-Specific Gene Editing System and nanoparticle and hybrid gene delivery technologies. The Company has formed global strategic collaborations with Roche and Takeda to unlock the promise of cell and gene therapies for patients. Learn more at www.poseida.com and connect with Poseida on Twitter and LinkedIn.
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SOURCE Poseida Therapeutics, Inc.
Investor Contact: Alex Lobo, Stern Investor Relations, IR@poseida.com; Media Contact: Sarah Thailing, Senior Director, Corporate Communications and IR, Poseida Therapeutics, Inc., PR@poseida.com