Geron Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
January 16 2020 - 8:00AM
Business Wire
Geron Corporation (Nasdaq: GERN) today reported that it has
granted non-statutory stock options to purchase an aggregate of
98,000 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 January 15, 2020 at an
exercise price of $1.49 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20200116005152/en/
Suzanne Messere Investor and Media Relations investor@geron.com
media@geron.com
CG Capital 877-889-1972
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