Forte Biosciences, Inc. Reports Inducement Grants Under Nasdaq Listing Rules

DALLAS--(BUSINESS WIRE)--Forte Biosciences, Inc. (www.fortebiorx.com) (NASDAQ: FBRX), a clinical-stage biopharmaceutical company focused on developing FB102, which is a proprietary anti-CD122 monoclonal antibody therapeutic candidate with potentially broad autoimmune and autoimmune-related indications, today announced the issuance of equity inducement awards as required by the Nasdaq Stock Market Rules.

In accordance with NASDAQ Listing Rule 5635(c)(4), the Compensation Committee of Forte’s Board of Directors approved the grant of equity awards in the form of options to purchase an aggregate total of 25,000 shares of common stock to new non-executive employees as a material inducement to such individuals accepting employment with the Company. The option awards shall vest over four years, with twenty-five percent vesting on the one-year anniversary of the applicable optionee’s employment commencement date and the remaining seventy-five percent vesting in approximately equal monthly increments over the succeeding thirty-six months, subject to each individual’s continuous employment through each vesting date.

The inducement awards were made under Forte’s 2020 Inducement Equity Incentive Plan and related award agreements.

About Forte

Forte Biosciences, Inc. is a clinical-stage biopharmaceutical company focused on developing FB102, which is a proprietary anti-CD122 monoclonal antibody therapeutic candidate with potentially broad autoimmune and autoimmune-related indications.

Source: Forte Biosciences, Inc.