01.05.2024 22:05:07 - dpa-AFX: GNW-Adhoc: ADC Therapeutics Makes Grants to New Employees Under Inducement Plan
LAUSANNE, Switzerland, May 01, 2024 (GLOBE NEWSWIRE) -- ADC Therapeutics SA
(NYSE: ADCT) today announced that the Company has made grants of options to
purchase an aggregate of 147,600 of the Company's common shares to four new
employees on May 1, 2024 (each, a "Grant"). The Grants were offered as material
inducement to the employees' employment. The grants were approved by the
Compensation Committee of the Company's Board of Directors pursuant to the
Company's Inducement Plan to motivate and reward the recipients to perform at
the highest levels and contribute significantly to the success of the Company.
The Grants were made in reliance on the employment inducement exemption under
the NYSE's Listed Company Manual Rule 303A.08. The Company is issuing this press
release pursuant to Rule 303A.08. The Grants shall vest and become exercisable
25% on the first anniversary of the grant date, and 1/48th of the aggregate
number of shares subject to the award on each monthly anniversary of the grant
date thereafter, such that the entire award will be vested as of the fourth
anniversary of the grant date, subject to continued employment with the Company.
About ADC Therapeutics
ADC Therapeutics (NYSE: ADCT) is a commercial-stage global leader and pioneer in
the field of antibody drug conjugates (ADCs). The Company is advancing its
proprietary ADC technology to transform the treatment paradigm for patients with
hematologic malignancies and solid tumors.
ADC Therapeutics' CD19-directed ADC ZYNLONTA (loncastuximab tesirine-lpyl)
received accelerated approval by the FDA and conditional approval from the
European Commission for the treatment of relapsed or refractory diffuse large B-
cell lymphoma after two or more lines of systemic therapy. ZYNLONTA is also in
development in combination with other agents and in earlier lines of therapy. In
addition to ZYNLONTA, ADC Therapeutics has multiple ADCs in ongoing clinical and
preclinical development.
ADC Therapeutics is based in Lausanne (Biopôle), Switzerland and has operations
in London and New Jersey. For more information, please visit
https://www.adctherapeutics.com/ and follow the Company on LinkedIn
(https://www.linkedin.com/company/adc-therapeutics).
ZYNLONTA(®) is a registered trademark of ADC Therapeutics SA.
CONTACT:
Investors and Media
Nicole Riley
ADC Therapeutics
Nicole.Riley@adctherapeutics.com
+1 862-926-9040
Â