QuidelOrtho Corporation approved restricted stock units covering 50,323 common shares for two newly hired non-executive employees, using equity as an inducement to join the company.
QuidelOrtho said Oct. 15 that the awards were made under its 2026 Inducement Plan. The company listed Oct. 15, 2026, as the grant date and said the awards were intended to encourage the hires to join.
The vesting schedule has three dates: Oct. 15, 2027, 2028 and 2029. One-third of the units is due to vest on each date, provided the recipient remains employed through that date.
The company reported the awards as a combined total. It did not name the employees, say how the units were divided between them or give a dollar value for the grants.
The awards were approved under Nasdaq Listing Rule 5635(c)(4), which allows certain equity grants to induce a person to accept employment without shareholder approval, subject to approval and disclosure requirements. The SEC-filed 2026 Inducement Plan requires approval by a majority of independent directors or by a compensation committee made up solely of independent directors.
QuidelOrtho’s release says its Compensation Committee approved the grants but does not describe the committee’s membership. Nasdaq’s requirements also call for prompt press release disclosure of material grant terms.
A July 13 Form S-8 registered 1 million common shares for issuance under the plan. That plan-level filing does not establish how many shares remain available. On July 15, QuidelOrtho announced a separate grant of 356,555 restricted stock units to Chief Financial Officer Micah Young under the same plan; those units were also scheduled to vest over three anniversaries, subject to continued employment.
