Iovance Biotherapeutics, Inc. granted inducement stock options covering an aggregate of 139,930 shares of its common stock to 17 new non-executive employees on July 16, 2026. The awards were approved under the company's Amended and Restated 2021 Inducement Plan in accordance with NASDAQ Listing Rule 5635(c)(4). The grants aim to incentivize new hires as the biotechnology company continues to develop novel polyclonal tumor infiltrating lymphocyte (TIL) therapies for cancer patients.

Each stock option carries an exercise price of $4.66, which was the closing price of Iovance's common stock on the Date of Grant. The vesting schedule is structured over a three-year period, subject to the employee's continued service with the company. This approach aligns employee retention with long-term company performance.

Vesting Schedule

The vesting terms are designed to distribute the options incrementally:

The quarterly installments commence with the first quarter following the First Vesting Date. This structure ensures a gradual earning of equity, encouraging sustained employment.

Regulatory and Plan Details

The grants were authorized by Iovance's compensation committee, leveraging the flexibility provided by the Amended and Restated 2021 Inducement Plan. This plan specifically permits the issuance of equity awards to new employees as an inducement to join the company. The compliance with NASDAQ Listing Rule 5635(c)(4) allows the company to issue these awards without full shareholder approval, provided they meet specific criteria.

Iovance Biotherapeutics focuses on innovating, developing, and delivering TIL therapies. Its product Amtagvi® is noted as the first FDA-approved T cell therapy for a solid tumor indication. The company continues to invest in its workforce to support its clinical and commercial objectives in the cell therapy sector.

Iovance Biotherapeutics, Inc. granted inducement stock options covering an aggregate of 140,860 shares of common stock to twenty-seven new, non-executive employees. The grants were approved on June 18, 2026, under the company’s Amended and Restated 2021 Inducement Plan. These awards were authorized by the compensation committee in accordance with Nasdaq Listing Rule 5635(c)(4).

Each stock option has an exercise price of $3.91, which was the closing price of Iovance’s common stock on the Date of Grant. The vesting schedule spans a three-year period, with one-third of the shares vesting on the first anniversary of the employee’s start date. The remaining shares vest in eight quarterly installments over the subsequent two years, starting from the first quarter after the First Vesting Date, contingent upon continued employment.

Grant Details

Iovance Biotherapeutics, Inc. is a biotechnology company focused on developing novel polyclonal tumor infiltrating lymphocyte (TIL) therapies for cancer patients. The company’s TIL platform has shown clinical data across multiple solid tumors, and its product Amtagvi® is the first FDA-approved T cell therapy for a solid tumor indication.