Geron Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
August 20 2020 - 4:30PM
Business Wire
Geron Corporation (Nasdaq: GERN) today reported that it has
granted non-statutory stock options to purchase an aggregate of
270,000 shares of Geron common stock as inducements to four
newly-hired employees in connection with commencement of employment
with the Company.
The stock options were granted on August 19, 2020 at an exercise
price of $1.79 per share, which is equal to the closing price of
Geron common stock on the date of grant. Each stock option granted
has a 10-year term and vests over four years, with 12.5% of the
shares underlying the option vesting on the six-month anniversary
of commencement of employment 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. The options were granted as a material inducement to
employment in accordance with Nasdaq Listing Rule 5635(c)(4) and
are subject to the terms and conditions of a stock option agreement
covering the grant 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 focused
on the development and potential commercialization of a
first-in-class telomerase inhibitor, imetelstat, in hematologic
myeloid malignancies. For more information about Geron, visit
www.geron.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20200820005686/en/
Suzanne Messere Investor and Media Relations investor@geron.com
media@geron.com
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