Societal CDMO Adds New Staff

Societal CDMO, Inc., a contract development and manufacturing organization (CDMO) dedicated to solving complex formulation and manufacturing challenges primarily in small molecule therapeutic development, has added new employees to fill open positions throughout the company.
 
In connection with the hiring of these personnel, the compensation committee of Societal CDMO’s board of directors approved inducement stock option grants to purchase an aggregate of 87,690 shares of Societal CDMO’s common stock. The option awards were granted pursuant to the NASDAQ inducement grant exception as a component of each individual’s employment compensation and were granted as an inducement material to his or her acceptance of employment with Societal CDMO in accordance with NASDAQ Listing Rule 5635(c)(4). 
 
The option awards will have an exercise price equal to the closing price of Societal CDMO’s common stock on June 30, 2022 and a ten-year term and will vest in equal monthly installments over four years.