NEWARK, Calif., April 15, 2020 /PRNewswire/ — Protagonist Therapeutics, Inc. (Nasdaq:PTGX) today reported that on April 15, 2020, it issued an inducement award to Tracy Woody, the Company’s recently hired Executive Vice President of Corporate Strategy, in accordance with the terms of Ms. Woody’s employment offer letter. The award was granted under the Protagonist Therapeutics Amended and Restated Inducement Plan, which was adopted May 29, 2018, and amended February 18, 2020.
The inducement award consists of an option to purchase 50,000 shares of Protagonist Therapeutics common stock and has a ten-year term. The exercise price of the option was $6.82, which was the per-share closing price of Protagonist Therapeutics common stock on the Nasdaq Global Market on April 15, 2020. The shares subject to the option vest