Delcath Systems, Inc. granted equity awards as material inducements to eleven individuals whose employment commenced in March and April of 2025. These grants were approved by the company's Compensation Committee.
The awards totaled the right to purchase 111,000 shares of the company's common stock under the 2023 Inducement Plan. The options were granted on April 30, 2025, with an exercise price of $12.04, which was the closing price of Delcath's common stock on that date.
One-third of the options will vest on the first anniversary of the grant date, with the remaining two-thirds vesting in equal monthly installments over the subsequent twenty-four months. The options have a ten-year term and are subject to the employees' continued employment.
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