Verastem Oncology Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
October 06 2023 - 7:00AM
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 79,084
shares of its common stock to nine new employees. The awards were
granted pursuant to the Nasdaq inducement grant exception as an
inducement material to the employees’ acceptance of employment with
Verastem Oncology in accordance with Nasdaq Listing Rule
5635(c)(4). The stock options have an exercise price equal to $7.84
per share, the closing price of Verastem Oncology’s common stock as
reported by Nasdaq on October 2nd, 2023. The stock options to
purchase 69,084 shares of common stock that were granted to the
nine new employees will vest at a rate of twenty-five percent (25%)
on the one-year anniversary of the employees’ 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 an employee of or other service provider to Verastem
Oncology on each such vesting date. A stock option to purchase
10,000 shares of common stock that was granted to one new employee
will vest upon the achievement of a certain regulatory milestone,
provided the employee continues to serve as an employee of or other
service provider to Verastem Oncology on 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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Investors:
Dan Calkins Investor Relations +1 781-469-1694
dcalkins@verastem.com
Ryan Porter +1 212-600-1902 ryan.porter@argotpartners.com
Media:
Lisa Buffington Corporate Communications +1 781-292-4502
lbuffington@verastem.com
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