DURHAM, N.C., Aug. 04, 2025 (GLOBE NEWSWIRE) -- Fortrea (Nasdaq: FTRE) (the "Company"), a leading global contract research organization (CRO), today announced that it issued grants of employment inducement awards to Anshul Thakral, the Company's recently appointed President and Chief Executive Officer, as an inducement material to Mr. Thakral becoming a new employee of the Company. The grants were previously approved by the independent members of the Company's Board of Directors and were made in connection with Mr. Thakral's start date with the Company on August 4, 2025 (the "Effective Date").
The awards consisted of (i) 1,250,000 performance share units ("PSUs") that will vest, if at all, at the end of a three-year vesting period subject to certain performance goals and (ii) 1,250,000 restricted stock units ("RSUs") that vest in three equal annual installments from the Effective Date. In each case, vesting of the PSUs and RSUs is subject to Mr. Thakral's continuous employment through the applicable vesting date or earlier vesting due to a change of control and certain termination events.
The PSUs and RSUs were granted under the Company's 2025 Inducement Award Plan to Mr. Thakral, who was not previously employed by the Company, as an inducement material to Mr. Thakral's employment with the Company, pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules.
About Fortrea
Fortrea (Nasdaq: FTRE) is a leading global provider of clinical development solutions to the life sciences industry. We partner with emerging and large biopharmaceutical, biotechnology, medical device and diagnostic companies to drive healthcare innovation that accelerates life changing therapies to patients. Fortrea provides phase I-IV clinical trial management, clinical pharmacology and consulting services. Fortrea's solutions leverage three decades of experience spanning more than 20 therapeutic areas, a passion for scientific rigor, exceptional insights and a strong investigator site network. Our talented and diverse team working in about 100 countries is scaled to deliver focused and agile solutions to customers globally. Learn more about how Fortrea is becoming a transformative force from pipeline to patient at Fortrea.com and follow us on LinkedIn and X (formerly Twitter).
Fortrea Contacts
Hima Inguva (Investors) - 877-495-0816, hima.inguva@fortrea.com
Sue Zaranek (Media) - 919-943-5422, media@fortrea.com
Kate Dillon (Media) - 646-818-9115, kdillon@prosek.com
