Twist Bioscience announces inducement grants under Nasdaq listing rule

Twist Bioscience (TWST) announced that a total of 115,279 equity awards, consisting of 101,931 restricted stock units and up to 13,348 performance stock units, will be granted to 53 recently hired individuals, in each case as an inducement material to their acceptance of employment with Twist. The employment inducement awards will be granted under Twist’s Amended and Restated Inducement Equity Incentive Plan and related form of restricted stock unit award agreement in accordance with Nasdaq Listing Rule 5635(c)(4). The inducement plan is used exclusively for the grant of equity awards to individuals who were not previously employees of Twist, or following a bona fide period of non-employment, as an inducement material to such individuals entering into employment with Twist, pursuant to Nasdaq Listing Rule 5635(c)(4). A portion of the 101,931 RSUs vest over a 48-month period for each employee as follows: 25% vests on the one-year anniversary of the applicable vesting commencement date, and 1/16 of the RSUs vest on each quarterly anniversary of the Vesting Commencement Date thereafter, subject to the employee’s continued service through each vesting date. A portion of the 101,931 RSUs vest over a 48-month period for each employee as follows: 1/16 of the RSUs vest on each quarterly anniversary of the Vesting Commencement Date, subject to the employee’s continued service through each vesting date. Up to 13,348 PSUs vest on achievement of certain performance metrics set by the Compensation Committee of the Company’s Board of Directors, to be achieved by no later than the end of the 2027 fiscal year, subject, in each case, to the employee’s continued service through the applicable vesting dates.