T2 Biosystems Reports Granting of Inducement Award
Summary
LEXINGTON, Mass., Jan. 17, 2020 (GLOBE NEWSWIRE) -- T2 Biosystems, Inc. (NASDAQ:TTOO), an emerging leader in the development and commercialization of innovative medical diagnostic products for critical unmet needs in healthcare, announced today that it issued an inducement award to John Sperzel, the Company’s recently appointed Chief Executive Officer and President, in accordance with the terms of Mr. Sperzel’s employment agreement. The inducement award consists of an option to purchase 3,000,000 shares of T2 Biosystems common stock and has a ten-year term. The option vests in equal monthly installments over the four-year period following the grant date. 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 5635(c)(4). About T2 Biosystems: T2 Biosystems, a leader in the development and commercialization of innovative medical diagnostic products for critical unmet needs in healthcare, is dedicated to improving patient care and reducing the cost of care by helping clinicians effectively treat patients faster than ever before.