Verastem Oncology Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
October 04 2019 - 7:00AM
Business Wire
Verastem, Inc. (Nasdaq:VSTM) (Verastem Oncology or the Company),
a biopharmaceutical company focused on developing and
commercializing medicines to improve the survival and quality of
life of cancer patients, today announced the grant of options to
purchase 126,363 shares of its common stock to ten new employees.
The awards were granted as an inducement material to the employees'
acceptance of employment with Verastem Oncology in accordance with
Nasdaq Listing Rule 5635(c)(4). The options have an exercise price
equal to $1.17 per share, the closing price of Verastem Oncology's
common stock as reported by Nasdaq on October 1, 2019. 69,180
options granted to seven new employees will vest at a rate of 25%
on the one-year anniversary of his or her date of hire, and
thereafter, at a rate of 6.25% of the shares subject to the options
at the end of each successive three-month period, provided that the
employees continue to serve as employees of or other service
providers to Verastem Oncology on each such vesting date. 57,183
options granted to three new employees will vest a rate of 20% on
the one-year anniversary of his or her date of hire, and
thereafter, at a rate of 5.00% of the shares subject to the options
at the end of each successive three-month period, provided the
employees continue to serve as employees of or other service
providers to Verastem Oncology on each such vesting date.
About Verastem Oncology
Verastem Oncology (Nasdaq: VSTM) is a commercial
biopharmaceutical company committed to the development and
commercialization of medicines to improve the lives of patients
diagnosed with cancer. We are driven by the strength, tenacity and
courage of those battling cancer – single-minded in our resolve to
deliver new therapies that not only keep cancer at bay, but improve
the lives of patients diagnosed with cancer. Because for us, it’s
personal.
Our first FDA approved product is now available for the
treatment of patients with certain types of indolent non-Hodgkin’s
lymphoma (iNHL). Our pipeline comprises product candidates that
seek to treat cancer by modulating the local tumor
microenvironment. For more information, please visit
www.verastem.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20191004005035/en/
Investors: John Doyle Vice President, Investor Relations &
Finance +1 781-292-4279 jdoyle@verastem.com
Media: Lisa Buffington Corporate Communications +1 781-292-4205
lbuffington@verastem.com
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