Palisade Bio announces inducement grant under Nasdaq listing rule

Palisade Bio announced that it had made an equity grant to a new employee under its 2021 Inducement Plan, as amended. The Company’s Compensation Committee approved the issuance of an option to purchase 5,000 shares of the Company’s common stock to Joerg Heyer, the new Head of Translational Science and Medicine, as a material inducement to employment in accordance with Nasdaq Listing Rule 5635(c)(4). The option was issued on August 16, 2024, and has an exercise price of $3.94. The option vests in equal proportions on a quarterly basis over three years with vesting being contingent on Mr. Heyer continuing to provide services to the Company through each vesting date.