Tango Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
06 Março 2023 - 9:00AM
Tango Therapeutics, Inc. (NASDAQ: TNGX), a clinical-stage
biotechnology company committed to discovering and delivering the
next generation of precision cancer medicines, today announced
that, effective March 1, 2023, the Compensation Committee of
Tango Therapeutics' Board of Directors granted non-qualified stock
options to purchase an aggregate of 637,000 shares of its common
stock and an aggregate of 106,250 restricted stock units (RSUs) to
two new employees under Tango Therapeutics' 2023 Inducement Plan;
including 487,500 stock options and 81,250 RSUs to Adam Crystal,
M.D., Ph.D. in connection with his acceptance of employment as
Tango Therapeutics’ President of Research and Development.
The Tango Therapeutics 2023 Inducement Plan is used exclusively
for the grant of equity awards to individuals as an inducement
material to such individual's entering into employment with Tango
Therapeutics, pursuant to Rule 5635(c)(4) of the Nasdaq Listing
Rules.
The options have an exercise price of $5.20 per share,
which is equal to the closing price of Tango Therapeutics' common
stock on March 1, 2023. Each option will vest as to 25% of the
shares underlying such option on February 27, 2024 and as to an
additional 1/36th of the remaining shares underlying the
option monthly thereafter, in each case, subject to each such
employee's continued employment on each vesting date. Each RSU will
vest as to one-third of the shares on February 5, 2024, (ii)
one-third of the shares on February 3, 2025 and (iii) the final
one-third of the shares on February 2, 2026, subject to each such
employee's continued employment on each vesting date. The options
and RSUs are subject to the terms and conditions of Tango
Therapeutics' 2023 Inducement Plan, which was approved in February
2023, and the terms and conditions of the stock option and RSU
agreements covering the grant.
About Tango Therapeutics
Tango Therapeutics is a clinical-stage biotechnology company
dedicated to discovering novel drug targets and delivering the next
generation of precision medicine for the treatment of cancer. Using
an approach that starts and ends with patients, Tango leverages the
genetic principle of synthetic lethality to discover and develop
therapies that take aim at critical targets in cancer. This
includes expanding the universe of precision oncology targets into
novel areas such as tumor suppressor gene loss and their
contribution to the ability of cancer cells to evade immune cell
killing. For more information, please visit www.tangotx.com.
Investor Contact:Sam Martin/Andrew VulisArgot
Partnerstango@argotpartners.com
Media Contact:Joshua R. Mansbach Argot Partners
tango@argotpartners.com
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