{"id":517191,"date":"2021-07-23T16:33:23","date_gmt":"2021-07-23T20:33:23","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/brooklyn-immuno-reports-inducement-grants\/"},"modified":"2021-07-23T16:33:23","modified_gmt":"2021-07-23T20:33:23","slug":"brooklyn-immuno-reports-inducement-grants","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/brooklyn-immuno-reports-inducement-grants\/","title":{"rendered":"Brooklyn Immuno Reports Inducement Grants"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">BROOKLYN, N.Y., July  23, 2021  (GLOBE NEWSWIRE) &#8212; Brooklyn ImmunoTherapeutics, Inc. (NYSE American: BTX) (\u201cBrooklyn\u201d), a biopharmaceutical company focused on exploring the role that cytokine and gene editing\/cell therapy can have in treating patients with cancer, blood disorders, and monogenic diseases, today announced that on July 15, 2021, Jay Sial was granted a non-qualified stock option covering 71,000 shares of Brooklyn\u2019s common stock (the \u201cTime-Based Option\u201d) and a restricted stock unit covering 35,700 shares of Brooklyn\u2019s common stock (the \u201cRSU\u201d).<\/p>\n<p align=\"justify\">The RSU will vest in four equal installments, with one-fourth of the shares covered by such RSU vesting on the anniversary of the grant date in each of 2022, 2023, 2024 and 2025, in each case for so long as Mr. Sial provides continuous service to Brooklyn through the relevant vesting date.<\/p>\n<p align=\"justify\">The Time-Based Option will have a per share exercise price equal to the closing price of a share of Brooklyn\u2019s common stock on the NYSE American Stock Exchange on July 15, 2021. Of the shares covered by the Time-Based Option, twenty-five percent of the shares will vest on July 15, 2022, and 1\/36 of the remaining shares will vest on the fifteenth day of each calendar month from August 15, 2022 through July 15, 2025, in each case for so long as Mr. Sial provides continuous service to Brooklyn through the relevant vesting date.<\/p>\n<p align=\"justify\">The unvested portion of the RSU and the Time-Based Option will terminate upon the termination of Mr. Sial\u2019s employment with Brooklyn for any reason, subject to certain vesting acceleration provisions upon a qualifying termination, as described in his employment agreement with Brooklyn. Unless earlier terminated in accordance with their terms, each of the RSU and the Time-Based Option will otherwise expire on the tenth anniversary of the grant date and be subject to the terms and conditions of the respective option agreement approved by Brooklyn. Each of the RSU and the Time-Based Option is intended to constitute an \u201cemployment inducement grant\u201d in accordance with the employment inducement grant rules set forth in Section 711(a) of the NYSE American LLC Company Guide, and is offered as an inducement material to Mr. Sial in connection with Brooklyn\u2019s hiring of Mr. Sial. Both of the equity awards described above were granted pursuant to the Company\u2019s 2021 Inducement Stock Incentive Plan, which was not subject to stockholder approval.<\/p>\n<p>\n        <strong>About Brooklyn ImmunoTherapeutics<\/strong>\n      <\/p>\n<p align=\"justify\">Brooklyn is focused on exploring the role that cytokine, gene editing, and cell therapy can have in treating patients with cancer, blood disorders, and monogenic diseases.<\/p>\n<p align=\"justify\">Brooklyn\u2019s most advanced program is IRX-2, a human cell-derived cytokine therapy, studying the safety and efficacy of IRX-2 in patients with head and neck cancer in Phase 2B. In a Phase 2A clinical trial in head and neck cancer, IRX-2 demonstrated an overall survival benefit. Additional studies are either underway or planned in other solid tumor cancer indications.<\/p>\n<p align=\"justify\">Brooklyn has multiple next-generation cell and gene-editing therapies in preclinical development for various indications including acute respiratory distress syndrome, solid tumor indications, as well as in vivo gene-editing therapies for rare genetic diseases. For more information about Brooklyn and its clinical programs, please visit www.BrooklynITx.com.<\/p>\n<p>\n        <strong>Investor Relations Contact:<\/strong><br \/>\n        <br \/>CORE IR<br \/>516-222-2560<br \/>investors@brooklynitx.com<\/p>\n<p>\n        <strong>Media Contact:<\/strong><br \/>\n        <br \/>Jules Abraham<br \/>CORE IR<br \/>917-885-7378<br \/>julesa@coreir.com<\/p>\n<p \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODI4NTkxMCM0MzEyNDM3IzIyMTAyODA=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/ed9ce14f-891c-4a3d-ad29-169eada6a63a\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>BROOKLYN, N.Y., July 23, 2021 (GLOBE NEWSWIRE) &#8212; Brooklyn ImmunoTherapeutics, Inc. (NYSE American: BTX) (\u201cBrooklyn\u201d), a biopharmaceutical company focused on exploring the role that cytokine and gene editing\/cell therapy can have in treating patients with cancer, blood disorders, and monogenic diseases, today announced that on July 15, 2021, Jay Sial was granted a non-qualified stock option covering 71,000 shares of Brooklyn\u2019s common stock (the \u201cTime-Based Option\u201d) and a restricted stock unit covering 35,700 shares of Brooklyn\u2019s common stock (the \u201cRSU\u201d). The RSU will vest in four equal installments, with one-fourth of the shares covered by such RSU vesting on the anniversary of the grant date in each of 2022, 2023, 2024 and 2025, in each case for so long as &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/brooklyn-immuno-reports-inducement-grants\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Brooklyn Immuno Reports Inducement Grants&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-517191","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Brooklyn Immuno Reports Inducement Grants - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/brooklyn-immuno-reports-inducement-grants\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Brooklyn Immuno Reports Inducement Grants - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"BROOKLYN, N.Y., July 23, 2021 (GLOBE NEWSWIRE) &#8212; Brooklyn ImmunoTherapeutics, Inc. (NYSE American: BTX) (\u201cBrooklyn\u201d), a biopharmaceutical company focused on exploring the role that cytokine and gene editing\/cell therapy can have in treating patients with cancer, blood disorders, and monogenic diseases, today announced that on July 15, 2021, Jay Sial was granted a non-qualified stock option covering 71,000 shares of Brooklyn\u2019s common stock (the \u201cTime-Based Option\u201d) and a restricted stock unit covering 35,700 shares of Brooklyn\u2019s common stock (the \u201cRSU\u201d). The RSU will vest in four equal installments, with one-fourth of the shares covered by such RSU vesting on the anniversary of the grant date in each of 2022, 2023, 2024 and 2025, in each case for so long as &hellip; Continue reading &quot;Brooklyn Immuno Reports Inducement Grants&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/brooklyn-immuno-reports-inducement-grants\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-23T20:33:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODI4NTkxMCM0MzEyNDM3IzIyMTAyODA=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/brooklyn-immuno-reports-inducement-grants\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/brooklyn-immuno-reports-inducement-grants\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Brooklyn Immuno Reports Inducement Grants\",\"datePublished\":\"2021-07-23T20:33:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/brooklyn-immuno-reports-inducement-grants\\\/\"},\"wordCount\":538,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/brooklyn-immuno-reports-inducement-grants\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODI4NTkxMCM0MzEyNDM3IzIyMTAyODA=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/brooklyn-immuno-reports-inducement-grants\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/brooklyn-immuno-reports-inducement-grants\\\/\",\"name\":\"Brooklyn Immuno Reports Inducement Grants - 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The RSU will vest in four equal installments, with one-fourth of the shares covered by such RSU vesting on the anniversary of the grant date in each of 2022, 2023, 2024 and 2025, in each case for so long as &hellip; Continue reading \"Brooklyn Immuno Reports Inducement Grants\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/brooklyn-immuno-reports-inducement-grants\/","og_site_name":"Market Newsdesk","article_published_time":"2021-07-23T20:33:23+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODI4NTkxMCM0MzEyNDM3IzIyMTAyODA=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/brooklyn-immuno-reports-inducement-grants\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/brooklyn-immuno-reports-inducement-grants\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Brooklyn Immuno Reports Inducement Grants","datePublished":"2021-07-23T20:33:23+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/brooklyn-immuno-reports-inducement-grants\/"},"wordCount":538,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/brooklyn-immuno-reports-inducement-grants\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODI4NTkxMCM0MzEyNDM3IzIyMTAyODA=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/brooklyn-immuno-reports-inducement-grants\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/brooklyn-immuno-reports-inducement-grants\/","name":"Brooklyn Immuno Reports Inducement Grants - 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