Northwest Biotherapeutics settles shareholder litigation over 2020 options; insurers to pay $2.25M

NORTHWEST BIOTHERAPEUTICS INC

Settlement resolves Delaware Chancery litigation over 2020 option awards to management and directors.
17% of challenged options will be cancelled; company's insurers to pay $2.25 million to the company.
Definitive settlement documentation due within 30 days; plaintiff's amended complaint covered by deal.
Plaintiff intends to seek attorneys' fees and expenses, to be paid separately by insurers, subject to court approval.
Cash payment from insurers cannot be used for fee award; both settlement and fee require court approval.

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