Geron Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
August 19 2021 - 4:30PM
Business Wire
Geron Corporation (Nasdaq: GERN) today reported that it has
granted non-statutory stock options to purchase an aggregate of
550,000 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 18, 2021 at an exercise
price of $1.25 per share, which is equal to the closing price of
Geron common stock on the date of grant. The stock options 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 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 material inducements 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 focused
on the development and potential commercialization of a
first-in-class telomerase inhibitor, imetelstat, in hematologic
myeloid malignancies. The Company currently is conducting two Phase
3 clinical trials: IMerge in lower risk myelodysplastic syndromes
and IMpactMF in refractory myelofibrosis. For more information
about Geron, visit www.geron.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20210819005672/en/
Olivia Bloom Chief Financial Officer investor@geron.com
media@geron.com
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