T2 Biosystems Grants Inducement Awards to New Employees

T2 Biosystems, a leading company in the rapid detection of sepsis-causing pathogens, has recently announced the issuance of inducement awards to nine new employees. The awards, granted under the T2 Biosystems’ Inducement Award Plan, demonstrate the company’s commitment to attracting top talent and fostering a dynamic work environment.

The inducement awards consist of eight option grant awards, allowing the purchase of a total of 5,700 shares of T2 Biosystems common stock. Additionally, one grant of restricted stock units (RSUs) covering 40,000 shares of the company’s common stock was awarded to Joseph Traut, the Vice President of Operations. These awards serve as a testament to T2 Biosystems’ recognition of Mr. Traut’s valuable contributions to the organization.

The options granted have an exercise price of $0.2320, reflecting the per-share closing price of T2 Biosystems common stock on the Nasdaq Capital Market on October 2, 2023. Over a four-year period, the options will vest, with 25% vesting on the first anniversary of the employee’s date of hire and the remainder vesting in equal monthly installments over the subsequent three years. As for the RSUs awarded to Mr. Traut, they will vest in thirds on each of the first two anniversaries of the grant date, with the remaining portion vesting on the third anniversary, subject to his continued service to the company. Both the stock options and RSUs have a ten-year term.

The independent compensation committee of T2 Biosystems’ board of directors approved the inducement awards, recognizing their significance in attracting and retaining talented individuals. These awards were granted as an inducement material to the new employees joining T2 Biosystems, in accordance with Nasdaq Marketplace Rule 5635(c)(4).

T2 Biosystems is dedicated to improving patient care and reducing healthcare costs by providing clinicians with rapid and accurate diagnostic tools. Their products, powered by the proprietary T2 Magnetic Resonance (T2MR®) technology, include the T2Dx® Instrument, T2Candida® Panel, T2Bacteria® Panel, T2Resistance™ Panel, and T2SARS-CoV-2™ Panel. The company also has an active pipeline of future products, including tests for Acinetobacter baumannii, Candida auris, and T2Lyme™ Panel, as well as additional solutions for detecting bacterial and fungal pathogens, antimicrobial resistance markers, and biothreat pathogens.

T2 Biosystems’ commitment to innovation and attracting top talent positions them as a leader in the field of rapid pathogen detection. With these recent inducement awards, the company continues to strengthen its workforce and advance its mission of improving patient outcomes.