Verastem Oncology Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
October 07 2022 - 4:05PM
Business Wire
Verastem Oncology (Nasdaq:VSTM), a biopharmaceutical company
committed to advancing new medicines for patients with cancer,
today announced the grant of stock options to purchase 22,500
shares of its common stock and the grant of 15,000 restricted stock
units (RSUs) to one new employee. The awards were granted pursuant
to the Nasdaq inducement grant exception as an inducement material
to the employee’s acceptance of employment with Verastem Oncology
in accordance with Nasdaq Listing Rule 5635(c)(4). The stock
options have an exercise price equal to $0.87 per share, the
closing price of Verastem Oncology's common stock as reported by
Nasdaq on October 3, 2022. The stock options and RSUs that were
granted to the one new employee 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 employee
continues to serve as an employee of or other service provider 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 FAK inhibition. For more
information, please visit www.verastem.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20221007005407/en/
Investors: Dan Calkins Investor Relations +1 781-469-1694
dcalkins@verastem.com Nate LiaBraaten +1 212-600-1902
nate@argotpartners.com Media: Lisa Buffington VP, Corporate
Communications +1 781-292-4205 lbuffington@verastem.com
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