GlobeNewswire Inc | May 7, 2021 04:05PM EDT

May 07, 2021

DUBLIN, Ireland, May 07, 2021 (GLOBE NEWSWIRE) -- Prothena Corporation plc (NASDAQ:PRTA), a late-stage clinical company with a robust pipeline of novel investigational therapeutics built on protein dysregulation expertise, today announced that in connection with hiring two new employees, the compensation committee of the Companys board of directors granted the individuals hired by the Company, in the aggregate, options to purchase 155,000 ordinary shares of the Company. The options have an exercise price per share equal to $27.04, which was the closing trading price on May 3, 2021, the date of the grants. The inducement awards will vest over four years, with 25% of the underlying shares vesting on the one-year anniversary of the date of grants and 1/48th of the underlying shares vesting monthly thereafter over 36 months. The options were granted pursuant to the Companys 2020 Employment Inducement Incentive Plan, which was approved by the Companys board of directors under Rule 5635(c)(4) of The Nasdaq Global Market for equity grants to induce new employees to enter into employment with the Company.

About Prothena

Prothena Corporation plc is a late-stage clinical company with a robust pipeline of novel investigational therapeutics built on protein dysregulation expertise with the potential to change the course of devastating rare peripheral amyloid and neurodegenerative diseases. Fueled by its deep scientific expertise built over decades of research, Prothena is advancing a pipeline of therapeutic candidates for a number of indications and novel targets for which its ability to integrate scientific insights around neurological dysfunction and the biology of misfolded proteins can be leveraged. Prothenas pipeline includes both wholly-owned and partnered programs being developed for the potential treatment of diseases including AL amyloidosis, ATTR amyloidosis, Alzheimers disease, Parkinsons disease and a number of other neurodegenerative diseases. For more information, please visit the Companys website at www.prothena.com and follow the Company on Twitter @ProthenaCorp.

Contacts:

Media & InvestorsJennifer Zibuda, Director, Investor Relations & Communications650-837-8535, jennifer.zibuda@prothena.com