Cidara Therapeutics, Inc. Grants Stock Options and RSUs to New Employee

New Employee Receives Stock Options and RSUs

Cidara Therapeutics, Inc., a biotechnology company focused on developing drug-Fc conjugate immunotherapies, recently announced that the Compensation Committee of its Board of Directors has granted Dipesh Bhatt, a new employee, a non-qualified stock option award and restricted stock units (RSUs) totaling 1,110 shares of its common stock. This grant was made pursuant to the company’s Inducement Incentive Plan and has a grant date of September 30, 2024.

Details of the Stock Option and RSUs

The stock option has an exercise price of $10.75 per share, matching the closing price of Cidara’s common stock on the grant date. The shares subject to the option will vest over four years, with 25% vesting on the one-year anniversary of the vesting commencement date and the remaining shares vesting in monthly installments thereafter. The RSUs will vest in four equal annual installments over four years, with 1/4 vesting on each anniversary of the Quarterly Vesting Date.

Impact on the Employee

Receiving stock options and RSUs as part of compensation can be a significant benefit for employees. These equity grants give employees the opportunity to share in the company’s success and potentially benefit financially as the company grows. For Dipesh Bhatt, this grant represents a valuable addition to his compensation package and aligns his interests with those of the company.

Impact on the World

As Cidara Therapeutics continues to develop innovative immunotherapies using its proprietary Cloudbreak platform, the granting of stock options and RSUs to employees like Dipesh Bhatt helps to attract and retain top talent in the biotechnology industry. This, in turn, can lead to advancements in medical treatments and potentially improve the standard of care for patients facing serious diseases around the world.

Conclusion

The granting of stock options and RSUs to Dipesh Bhatt by Cidara Therapeutics reflects the company’s commitment to rewarding and retaining talented employees. As the company continues its work in developing life-saving therapies, initiatives like these help to drive innovation and ultimately benefit both employees and patients alike.