Cartesian announces new employment inducement grants

Cartesian Therapeutics announced the granting of inducement awards to four new employees. On April 1, 2024, the Company issued to each of these employees an option to purchase shares of the Company’s common stock with an exercise price of $0.5601, the closing trading price of the Company’s common stock on the Nasdaq Global Market on the date of grant. The options are exercisable for an aggregate of 765,000 shares of the Company’s common stock. Each of the four options was granted pursuant to the Company’s Amended and Restated 2018 Employment Inducement Incentive Award Plan and was approved by the Company’s board of directors. The options each vest as to 25% on April 1, 2025, and then in three equal installments thereafter such that the option will be fully vested on April 1, 2028. The options each have a ten-year term.