NASDAQ Grants Major Inducement to Companies: Uncovering the Details of Listing Rule 5635(c)(4)

Science 37, Inc. (Nasdaq: SNCE) – the industry-leading Metasite™ – has granted equity awards to non-executive employees as part of its 2022 Employment Inducement Incentive Award Plan. Approved by the Board of Directors in November 2022 and the Compensation Committee, these awards serve as a material inducement to encourage new employees to join the company.

On May 5, 2023, Science 37 welcomed three new employees to its team by granting them the opportunity to purchase a total of 52,300 shares of its common stock at an exercise price of $0.28 per share. This price was the closing sales price of Science 37’s common stock on the Nasdaq Stock Market LLC on the same day.

Science 37 is offering employees the opportunity to participate in a 10-year option plan with a four-year vesting schedule. On the first anniversary of the grant date, 25% of the shares subject to the option will become vested, and the remaining underlying shares will vest in equal monthly installments over the following three years, provided the employee remains employed with Science 37 through each applicable vesting date.

About Science 37

At Science 37 Holdings, Inc. (Nasdaq: SNCE), our mission is to revolutionize clinical research by empowering patients with universal trial access. Through our innovative Metasite™, clinical research is no longer limited to traditional site locations – patients can now participate from the comfort of their own homes, their local community provider, or at a traditional site when needed.

Powered by a proprietary technology platform with experienced medical and operational professionals, our Metasite ensures compliance and high-quality data to ensure studies are conducted safely and effectively.

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