BRISBANE, Calif.--(BUSINESS WIRE)--CareDx, Inc. (Nasdaq: CDNA)- The Transplant Company™ — a leading precision medicine company focused on the discovery, development, and commercialization of clinically differentiated, high-value healthcare solutions for transplant patients and caregivers — today announced that, on September 12, 2024, CareDx granted an option to purchase 100,651 shares of CareDx’s common stock (the “Kennedy Inducement Option”) and 70,101 restricted stock units (the “Kennedy Inducement RSUs”) to Keith S. Kennedy, CareDx’s newly appointed Chief Operating Officer, and granted an option to purchase 75,488 shares of CareDx’s common stock (the “Meng Inducement Option” and, together with the Kennedy Inducement Option, the “Inducement Options”) and 52,576 restricted stock units (the “Meng Inducement RSUs” and, together with the Kennedy Inducement RSUs, the “Inducement RSUs”) to Jessica Meng, CareDx’s newly appointed Chief Commercial Officer. The Inducement Options and the Inducement RSUs were approved by the Compensation and Human Capital Committee of CareDx’s board of directors on September 6, 2024 and were an inducement material to Mr. Kennedy’s and Ms. Meng’s respective employment with CareDx in accordance with Nasdaq Listing Rule 5635(c)(4).
The Inducement Options has an exercise price of $29.43 and will vest over four years, with 25% of the total number of shares subject to the Inducement Options vesting on September 12, 2025, the one-year anniversary of the date of commencement of Kennedy’s and Meng’s employment with CareDx, and 1/48th of the total number of shares subject to the Inducement Options vesting at the end of each calendar month thereafter, subject in each case to Kennedy’s and Meng’s respective continued services with CareDx on each vesting date. The Inducement RSUs will vest in four equal, annual installments beginning on September 12, 2025, the one-year anniversary of the date of commencement of Kennedy’s and Meng’s employment with CareDx, subject in each case to Kennedy’s and Meng’s respective continued services with CareDx on each vesting date.
CareDx is providing this information in accordance with Nasdaq Listing Rule 5635(c)(4).
About CareDx – The Transplant Company
CareDx, Inc., headquartered in Brisbane, California, is a leading precision medicine solutions company focused on the discovery, development, and commercialization of clinically differentiated, high-value healthcare solutions for transplant patients and caregivers. CareDx offers testing services, products, and digital healthcare solutions along the pre- and post-transplant patient journey and is the leading provider of genomics-based information for transplant patients. For more information, please visit www.caredx.com.
Forward Looking Statements
This press release includes forward-looking statements related to CareDx, Inc., including statements regarding the equity grants. These forward-looking statements are based upon information that is currently available to CareDx and its current expectations, speak only as of the date hereof, and are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including general economic and market factors; and other risks discussed in CareDx’s filings with the SEC, including the Annual Report on Form 10-K for the fiscal year ended December 31, 2023 filed by CareDx with the SEC on February 28, 2024, the Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2024 filed by CareDx with the SEC on May 9, 2024 and the Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2024 filed by CareDx with the SEC on July 31, 2024, and other reports that CareDx has filed with the SEC. Any of these may cause CareDx’s actual results, performance, or achievements to differ materially and adversely from those anticipated or implied by CareDx’s forward-looking statements. CareDx expressly disclaims any obligation, except as required by law, or undertaking to update or revise any such forward-looking statements.
