Imagion Biosystems has advised that 2,500,000 performance rights have vested and were issued as ordinary shares to Executive Chairman and CEO Bob Proulx today, Thursday 22 October, under the terms of Mr Proulx’s employment agreement.
Mr Proulx’s employment agreement, which was approved by shareholders at the AGM on 22 July 2020, includes an equity incentive plan of 10,000,000 performance rights, with vesting based on the achievement of four milestones in alignment with shareholder interests.
On 7 October 2020 the Company announced that it had received approval from an Australian Human Research Ethics Committee (HREC) for undertaking a Phase I study of the MagSense® HER2 Breast Cancer imaging agent. The HREC approval vesting is one of the performance rights milestones under the incentive plan.
Read the advisory.