T2 Biosystems reports granting of inducement awards
T2 Biosystems announced that on October 3 it issued inducement awards to two new employees.These awards were made under T2 Biosystems' Inducement Award Plan, which was adopted by the company's Board of Directors on March 1, 2018 and amended and restated on February 21 and provides for the granting of equity awards to new employees of T2 Biosystems. The inducement awards consist of non-qualified stock options to purchase 23,000 shares of T2 Biosystems common stock and have a ten-year term. The exercise price of the options is $2.46, which was the per-share closing price of T2 Biosystems common stock on the Nasdaq Capital Market on October 3, 2019. The options vest over a four-year period, with 25% vesting on the first anniversary of the employee's date of hire and the remainder vesting in equal monthly installments over the three years thereafter. The award was approved by the independent compensation committee of T2 Biosystems' board of directors and was granted as an inducement material to the new employee entering into employment with T2 Biosystems in accordance with Nasdaq Marketplace Rule 5635c4.