Boston, Massachusetts, USA
December 2, 2022
Ginkgo Bioworks Holdings, Inc. (NYSE: DNA) ("Ginkgo"), which is building the leading platform for cell programming and biosecurity, today announced that in connection with its transaction with Bayer CropScience LP ("Bayer") on October 17, 2022, Ginkgo granted 9,868,143 restricted stock units to 139 new employees, and in connection with its acquisition of Zymergen Inc. ("Zymergen") on October 19, 2022, Ginkgo granted 8,305,110 restricted stock units to 179 new employees. The restricted stock units were granted without stockholder approval as material inducements to the employees entering into employment with Ginkgo pursuant to NYSE Listed Company Manual Section 303A.08 and were approved by Ginkgo's compensation committee.
Consistent with Ginkgo's standard vesting schedules, each grant of restricted stock units to former Bayer employees will vest as to 25% of the restricted stock units on the one-year anniversary of the grant date and 1/48 of the restricted stock units monthly thereafter. Each grant of restricted stock units to former Zymergen employees will vest either (i) as to 25% of the restricted stock units on the one-year anniversary of the grant date and 1/48 of the restricted stock units monthly thereafter, or (ii) for certain employees, as to 100% of the restricted stock units on a range of dates between approximately two and 13 months from the grant date (and will fully vest on the last day of an employee's employment, if such employee's employment is terminated without cause), provided, in all cases, that the employee continues to serve as an employee of, or other service provider to, Ginkgo or one of its subsidiaries on each such vesting date. The restricted stock units are subject to the terms of the Ginkgo Bioworks Holdings, Inc. 2022 Inducement Plan and individual award agreements thereunder.
About Ginkgo Bioworks
Ginkgo Bioworks is the leading horizontal platform for cell programming, providing flexible, end-to-end services that solve challenges for organizations across diverse markets, from food and agriculture to pharmaceuticals to industrial and specialty chemicals. Ginkgo's biosecurity and public health unit, Concentric by Ginkgo, is building global infrastructure for biosecurity to empower governments, communities, and public health leaders to prevent, detect and respond to a wide variety of biological threats. For more information, visit ginkgobioworks.com and concentricbyginkgo.com, read our blog, or follow us on social media channels such as Twitter (@Ginkgo and @ConcentricByGBW), Instagram (@GinkgoBioworks and @ConcentricByGinkgo), or LinkedIn.
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