Protagonist Therapeutics Announces Inducement Awards to New Executive

Protagonist Therapeutics, Inc. (Nasdaq:PTGX) announced the issuance of inducement awards to Dr. Newman Yeilding upon his appointment as Executive Vice President and Chief Scientific Officer. The awards were granted on January 2, 2025, under the Protagonist Therapeutics Amended and Restated Inducement Plan. This plan was originally adopted in 2018 and has been amended in subsequent years.

Dr. Yeilding received options to purchase 38,520 shares and restricted stock units for 31,779 shares of Protagonist Therapeutics common stock. The exercise price is set at $38.98, aligning with the closing price on the Nasdaq Global Market on the day of granting. The vesting schedule spans four years, with 25% vesting on the first anniversary and the remainder vesting monthly over three subsequent years.

These awards were approved by the compensation committee to incentivize Dr. Yeilding's employment, in line with Nasdaq Marketplace Rule 5635(c)(4).