FT. MYERS, FL / ACCESSWIRE / Aug 16, 2022 / NeoGenomics, Inc. (Nasdaq:NEO), a leading provider of oncology testing and global contract research services, announced today that, as required by Nasdaq listing rules, it has made stock incentive awards to Mr. Chris Smith, the Company’s new Chief Executive Officer . As a significant incentive for Mr. Smith to join the Company and pursuant to Nasdaq Listing Rule 5635(c)(4), the Culture and Compensation Committee of the Board of Directors approved the grant to Mr. Smith of (i) an award of 336,767 restricted shares of the Company’s common stock (the “RSA”), (ii) a sign-on award of 265,452 restricted shares of Company common stock (the “Sign-on Award”), and (iii) a stock option to purchase 694,444 shares of Company common stock, each with Effective August 15, 2022 (collectively, the “Incentive Awards”). The Inducement Awards were granted outside of the Company’s current Stock Incentive Plan but are subject to terms and conditions generally consistent with those of the Company’s amended and restated 2015 Stock Incentive Plan, which was last amended and majority approved by shareholders on May 27th. 2021

Twenty-five percent of the restricted shares governed by the RSA vest on each annual anniversary of the grant date of the RSA, subject to Mr. Smith’s continued service through any applicable vesting date. The restricted shares subject to the Sign-On Award vest on the fourth anniversary of the grant date, subject to Mr. Smith’s continued service on that date.

The stock option award has a term of seven years and an exercise price per share of $12.62, which is the closing price of the Company’s common stock as quoted on the Nasdaq Stock Market LLC on the day prior to the stock option award date. Twenty-five percent of the shares subject to the stock option award vest on each annual anniversary of the grant of the stock option award, subject to continuing…