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RED BANK, NJ, February 3, 2023 /PRNewswire/ — Provention Bio, Inc. (Nasdaq: PRVB) (the “Company”), a biopharmaceutical company dedicated to the interception and prevention of immune-mediated diseases, today announced that the Company has granted stock options to 8 non-executive employees to purchase a total of 124,000 ordinary shares. The stock options were granted without shareholder approval as a material incentive for new non-executive employees joining the company, pursuant to Nasdaq listing rule 5635(c) (4) and have been approved by the compensation committee of the company’s board of directors.
The stock options were granted with a term of 10 years and an exercise price equal to $8.59 the closing price per share of the common stock of the Company as published by the Nasdaq on February 1stst, 2023. Each option will vest 25% on the first anniversary of the grant date and 75% in equal monthly installments thereafter, such that the award is fully vested on the fourth anniversary of the grant date. , provided that each new employee continues to be an employee or other service provider of the Company on each such vesting date. Stock options are subject to the terms of Provention Bio, Inc.’s 2020 Incentive Plan, as amended.
About Provention Bio, Inc.
Provention Bio, Inc. (Nasdaq: PRVB) is a commercial-stage biopharmaceutical company focused on advancing the development and commercialization of investigational therapies that can intercept and prevent debilitating and life-threatening immune-mediated diseases. The Company’s pipeline includes clinical-stage product candidates that have demonstrated in preclinical or clinical studies proof-of-mechanism and/or proof-of-concept in autoimmune diseases, including T1D, celiac disease and lupus. Visit www.ProventionBio.com for more information and follow us on Twitter: @ProventionBio.
Publication of information on the Internet:
Provention Bio, Inc. uses its website, www.proventionbio.com, as a means to disclose material, nonpublic information and to comply with its disclosure obligations under the FD Rules. These disclosures will be included on the Company’s website in the “News” section. Accordingly, investors should monitor this portion of the Company’s website, in addition to monitoring its press releases, SEC filings, public conference calls and webcasts.
Investor contacts:
Kristen KelleherSenior Director, Investor Relations
[email protected]
Media Contact:
Kaelan Hollonvice president, corporate communications
[email protected]
202-421-4921
SOURCE Provention Bio, Inc.
