Verastem Oncology Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
October 06 2020 - 7:00AM
Business Wire
Verastem, Inc. (Nasdaq:VSTM) (also known as Verastem Oncology),
a biopharmaceutical company committed to advancing new medicines
for patients battling cancer, today announced the grant of options
to purchase 39,000 shares of its common stock to three new
employees and the grant of 22,500 restricted stock units (RSUs) to
two of the three 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 $1.26 per
share, the closing price of Verastem Oncology's common stock as
reported by Nasdaq on October 1, 2020. The stock options and RSUs
that were granted to the three new employees will vest at a rate of
twenty-five percent (25%) on the one year anniversary of the
employee's date of hire, with the remaining shares vesting
quarterly over the next three (3) years in equal quarterly amounts,
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 development-stage
biopharmaceutical company committed to the development and
commercialization of new medicines to improve the lives of patients
diagnosed with cancer. Our pipeline is focused on novel small
molecule drugs that inhibit critical signaling pathways in cancer
that promote cancer cell survival and tumor growth, including
RAF/MEK inhibition and focal adhesion kinase (FAK) inhibition. For
more information, please visit www.verastem.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20201006005110/en/
Investors: John Doyle Vice President, Investor Relations &
Finance +1 781-469-1546 jdoyle@verastem.com
Media: Lisa Buffington Corporate Communications +1
781-292-4205
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