Geron Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
November 21 2019 - 8:00AM
Geron Corporation (Nasdaq: GERN) today reported that it has granted
non-statutory stock options to purchase an aggregate of 150,000
shares of Geron common stock as inducements to two newly-hired
employees in connection with commencement of employment with the
Company.
The stock options were granted on November 20, 2019 at an
exercise price of $1.36 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.
CONTACT:
Suzanne MessereInvestor and Media
Relationsinvestor@geron.commedia@geron.com
CG Capital877-889-1972
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