As required by the rules of the Nasdaq Stock Market, Twist Bioscience Corporation (NASDAQ: TWST) (“Twist” or the “Company”), a mid-cap growth and value biotech company, today announced that a total of 115,279 equity awards, consisting of 101,931 restricted stock units (“RSUs”) and up to 13,348 performance stock units (“PSUs”), 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 (the “Vesting Commencement Date”), and 1/16 of the RSUs vest on each quarterly anniversary (or the last day of the month if no such day exists) 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 (or the last day of the month if no such day exists) 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 (which can be earned at 50%-150% of 100% target), subject, in each case, to the employee’s continued service through the applicable vesting dates.
About Twist Bioscience Corporation
At Twist Bioscience, our customizable solutions across the biological continuum raise the bar in diagnostics, therapeutics, industrial, agriculture and research markets.
We drive innovation with confidence, without compromise. Whether delivering oligos, genes, proteins, libraries, characterization data, antibody discovery solutions, or NGS workflow tools, our scientific expertise and exceptional customer experience help navigate complex challenges, all with precision and at the scale and speed customers require. By enhancing R&D efficiency at every turn, we give scientists more shots on goal – more experiments, more iterations, more chances for remarkable discoveries.
Together, we stand with customers in the relentless pursuit of progress, backed by enterprise reliability, to shape a healthier and more sustainable future for all. For more information about our products and services, please visit www.twistbioscience.com.
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