Deciphera Pharmaceuticals, Inc. Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
August 18 2023 - 4:05PM
Business Wire
Deciphera Pharmaceuticals, Inc. (NASDAQ: DCPH), a
biopharmaceutical company focused on discovering, developing, and
commercializing important new medicines to improve the lives of
people with cancer, today announced that in connection with the
hiring of Kevin Brodbeck, Senior Vice President and Chief Technical
Officer, the Compensation Committee of Deciphera’s Board of
Directors approved the grant of a stock option to purchase 89,200
shares of Deciphera’s common stock, 44,600 restricted stock units
(“RSUs”) and a special grant of 15,000 RSUs (“Special RSUs”) to Mr.
Brodbeck with a grant date of August 15, 2023.
The equity awards were granted under the Company’s 2022
Inducement Plan and were made pursuant to Nasdaq Listing Rule
5635(c)(4). The grants were an inducement material to Mr. Brodbeck
accepting employment with the Company. The options have a ten-year
term, and the exercise price of the options is $15.48, equal to the
fair market value of the Company’s common stock on the Nasdaq on
August 15, 2023. The shares subject to the option vest over a
four-year period, with 25 percent of the shares subject to the
option vesting on the first anniversary of Mr. Brodbeck’s date of
hire and the remainder vesting in equal monthly installments over
three years thereafter. The 44,600 shares underlying the RSU grant
will vest in equal annual installments over a three-year period,
beginning on or about the one-year anniversary of the grant date.
The 15,000 shares underlying the special grant vest over a two-year
period, with 50 percent vesting on the first anniversary of Mr.
Brodbeck’s date of hire and the remainder vesting on or about the
two-year anniversary of the grant date. The awards are subject to
the terms and conditions of their applicable equity award
agreements, including having a continued relationship with the
Company on the vesting date.
About Deciphera Pharmaceuticals
Deciphera is a biopharmaceutical company focused on discovering,
developing, and commercializing important new medicines to improve
the lives of people with cancer. We are leveraging our proprietary
switch-control kinase inhibitor platform and deep expertise in
kinase biology to develop a broad portfolio of innovative
medicines. In addition to advancing multiple product candidates
from our platform in clinical studies, QINLOCK® is Deciphera’s
switch-control inhibitor for the treatment of fourth-line GIST.
QINLOCK is approved in Australia, Canada, China, the European
Union, Hong Kong, Israel, Macau, New Zealand, Singapore,
Switzerland, Taiwan, the United Kingdom, and the United States. For
more information, visit www.deciphera.com and follow us on LinkedIn
and Twitter (@Deciphera).
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version on businesswire.com: https://www.businesswire.com/news/home/20230818607454/en/
Investor Relations: Maghan Meyers Argot Partners
Deciphera@argotpartners.com 212-600-1902
Media: David Rosen Argot Partners
david.rosen@argotpartners.com 212-600-1902
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