Geron Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
17 Agosto 2023 - 5:30PM
Business Wire
Geron Corporation (Nasdaq: GERN) today reported that it has
granted non-statutory stock options to purchase an aggregate of
189,850 shares of Geron common stock as inducements to newly hired
employees in connection with commencement of employment with the
Company.
The stock options were granted on August 16, 2023 at an exercise
price of $2.70 per share, which is equal to the closing price of
Geron common stock on the date of grant. Stock options representing
an aggregate of 185,220 shares have a 10-year term and vest over
four years, with 12.5% of the shares underlying the options vesting
on the six-month anniversary of commencement of employment for the
respective employees and the remaining shares vesting over the
following 42 months in equal installments of whole shares, subject
to continued employment with Geron through the applicable vesting
dates. Stock options representing an aggregate of 4,630 shares have
a 10-year term and vest in full upon achievement of a certain
regulatory milestone, subject to continued employment with Geron
through the applicable vesting date. All of the stock options were
granted as material inducement to employment in accordance with
Nasdaq Listing Rule 5635(c)(4) and are subject to the terms and
conditions of the stock option agreements covering the grants and
Geron’s 2018 Inducement Award Plan, which was adopted December 14,
2018 and provides for the granting of stock options to new
employees.
About Geron
Geron is a late-stage clinical biopharmaceutical company
pursuing therapies with the potential to extend and enrich the
lives of patients living with hematologic malignancies. Its
investigational first-in-class telomerase inhibitor, imetelstat,
harnesses Nobel Prize winning science in a treatment that may alter
the underlying course of these diseases. To learn more, visit
http://www.geron.com/ or follow us on LinkedIn.
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version on businesswire.com: https://www.businesswire.com/news/home/20230817214812/en/
Aron Feingold Investor and Media Relations investor@geron.com
media@geron.com
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