Iovance Biotherapeutics announced the approval of inducement stock option grants totaling 3,600 shares to two newly hired non-executive employees on February 19, 2026. The grants were issued under the company's Amended and Restated 2021 Inducement Plan, in accordance with NASDAQ Listing Rule 5635(c)(4), which permits companies to grant equity awards to newly hired employees without stockholder approval.
The options carry an exercise price of $2.85 per share and are subject to a three-year vesting schedule. Under NASDAQ regulations, inducement grants are limited to newly hired employees and serve as recruitment and retention incentives outside the scope of shareholder-approved equity plans.
The awards represent standard compensation practices for new hires at the biotechnology company and do not require stockholder approval under applicable exchange rules.