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Quantum-Si Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

August 16, 2023 at 16:00 PM EDT

ⓘ This article is third-party content and does not represent the views of this site. We make no guarantees regarding its accuracy or completeness.

Quantum-Si Incorporated (Nasdaq: QSI) (“Quantum-Si,” “QSI” or the “Company”), The Protein Sequencing Company^TM, today announced that the Compensation Committee of Quantum-Si’s Board of Directors has granted a non-qualified stock option award to purchase an aggregate of 200,000 shares of its Class A common stock to one new employee under the Company’s previously adopted Quantum-Si Incorporated 2023 Inducement Equity Incentive Plan (the “2023 Inducement Plan”). The stock options were granted as inducements material to the new employee becoming an employee of Quantum-Si in accordance with Nasdaq Listing Rule 5635(c)(4).

The 2023 Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of Quantum-Si (or following a bona fide period of non-employment), as an inducement material to such individuals’ entering into employment with Quantum-Si, pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules.

The options have an exercise price of $2.09 per share, which is equal to the closing price of Quantum-Si’s Class A common stock on The Nasdaq Global Market on August 15, 2023, the date of grant of the options. Each option will vest over a four-year period, with 25% of the shares vesting on the last day of the calendar quarter that is 12 months after the employee’s start date and the remaining shares vesting monthly over the following 36-months, subject to the employee’s continued employment with Quantum-Si on such vesting dates. The options are subject to the terms and conditions of the 2023 Inducement Plan and the terms and conditions of a stock option agreement covering the grant.

About Quantum-Si Incorporated

Quantum-Si, The Protein Sequencing Company^TM, is focused on revolutionizing the growing field of proteomics. The Company's suite of technologies is powered by a first-of-its-kind semiconductor chip designed to enable next-generation single-molecule protein sequencing and digitize proteomic research in order to advance drug discovery and diagnostics beyond what has been possible with DNA sequencing. Learn more at www.quantum-si.com.