Geron Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
September 16 2021 - 4:30PM
Business Wire
Geron Corporation (Nasdaq: GERN) today reported that it has
granted a non-statutory stock option to purchase an aggregate of
400,000 shares of Geron common stock as an inducement to a newly
hired employee in connection with commencement of employment with
the Company.
The stock option was granted on September 15, 2021 at an
exercise price of $1.36 per share, which is equal to the closing
price of Geron common stock on the date of grant. The stock option
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 option was granted as material inducement to
employment in accordance with Nasdaq Listing Rule 5635(c)(4) and is
subject to the terms and conditions of the 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. The Company currently is conducting two Phase
3 clinical trials: IMerge in lower risk myelodysplastic syndromes
and IMpactMF in refractory myelofibrosis. For more information
about Geron, visit www.geron.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20210916005291/en/
Olivia Bloom Chief Financial Officer investor@geron.com
media@geron.com
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