NEWTON,
Mass., July 5, 2023 /PRNewswire/ -- Karyopharm
Therapeutics Inc. (Nasdaq: KPTI), a commercial-stage pharmaceutical
company pioneering novel cancer therapies, today announced that the
Company granted an aggregate of 171,400 restricted stock units
(RSUs) to 11 newly-hired employees. These RSU awards were granted
as of June 30, 2023 pursuant to the
Company's 2022 Inducement Stock Incentive Plan, as amended, as
inducements material to the new employees entering into employment
with Karyopharm in accordance with Nasdaq Listing Rule
5635(c)(4).
Each RSU award will vest over three years, with 33 1/3% of the
shares underlying the RSU award vesting on each of the three
consecutive anniversaries of the applicable employee's employment
commencement date or June 30, 2023,
as applicable. The vesting of each RSU award is subject to the
employee's continued service as an employee of, or other service
provider to, Karyopharm through the applicable vesting dates. In
addition, each RSU award will be immediately exercisable in full
if, on or prior to the first anniversary of the consummation of a
"change in control event," the employee's employment is terminated
for "good reason" by the employee or terminated without "cause" by
Karyopharm (as such terms are defined in the applicable RSU
agreement).
About Karyopharm Therapeutics
Karyopharm Therapeutics Inc. (Nasdaq: KPTI) is a
commercial-stage pharmaceutical company pioneering novel cancer
therapies. Since its founding, Karyopharm has been an industry
leader in oral Selective Inhibitor of Nuclear Export (SINE)
compound technology, which was developed to address a fundamental
mechanism of oncogenesis: nuclear export dysregulation.
Karyopharm's lead SINE compound and first-in-class, oral exportin 1
(XPO1) inhibitor, XPOVIO® (selinexor), is approved in the U.S. and
marketed by the Company in three oncology indications and has
received regulatory approvals in various indications in a growing
number of ex-U.S. territories and countries, including Europe and the United Kingdom (as NEXPOVIO®) and China. Karyopharm has a focused pipeline
targeting multiple high unmet need cancer indications, including in
multiple myeloma, endometrial cancer, myelodysplastic neoplasms and
myelofibrosis. For more information about our people, science and
pipeline, please visit www.karyopharm.com, and follow us on Twitter
at @Karyopharm and LinkedIn.
XPOVIO® and NEXPOVIO® are registered
trademarks of Karyopharm Therapeutics Inc.
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SOURCE Karyopharm Therapeutics Inc.