Verastem Oncology Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
July 06 2021 - 7:00AM
Business Wire
Verastem Oncology (Nasdaq:VSTM), a biopharmaceutical company
committed to advancing new medicines for patients battling cancer,
today announced the grant of options to purchase 16,250 shares of
its common stock and the grant of 8,125 restricted stock units
(RSUs) to 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 $4.07 per
share, the closing price of Verastem Oncology's common stock as
reported by Nasdaq on July 1, 2021. 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) (Verastem, Inc.) 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/20210706005142/en/
Investors:
Ajay Munshi VP, Corporate Development +1 781-469-1579
amunshi@verastem.com
Sherri Spear Argot Partners +1 212-600-1902
sherri@argotpartners.com
Media:
Lisa Buffington VP, Corporate Communications +1 781-292-4205
lbuffington@verastem.com
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