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ADC Therapeutics SA (NYSE: ADCT) said it has granted options to purchase an aggregate of 49,400 of the company’s common shares to two new employees on May 1, 2026. The company said the grants were offered as a material inducement to the employees’ employment.
The options were approved by the Compensation Committee of ADC Therapeutics’ board of directors under the company’s Inducement Plan. The company said the grants were made in reliance on the employment inducement exemption under the NYSE Listed Company Manual Rule 303A.08.
ADC Therapeutics said the options will vest and become exercisable as follows: 25% on the first anniversary of the grant date, and 1/48th of the aggregate number of shares subject to the award on each monthly anniversary of the grant date thereafter. The company said the entire award will be vested as of the fourth anniversary of the grant date, subject to continued employment.
ADC Therapeutics is a commercial-stage global leader and pioneer in antibody drug conjugates (ADCs). The company’s portfolio includes ZYNLONTA (loncastuximab tesirine-lpyl), a CD19-directed ADC.
ADC Therapeutics said ZYNLONTA received accelerated approval from the FDA and conditional approval from the European Commission for the treatment of relapsed or refractory diffuse large B-cell lymphoma after two or more lines of systemic therapy. The company also said ZYNLONTA is in development in combination with other agents and in earlier lines of therapy.
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