Geron Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
November 17 2022 - 4:30PM
Business Wire
Geron Corporation (Nasdaq: GERN) today reported that it has
granted non-statutory stock options to purchase an aggregate of
566,890 shares of Geron common stock as inducements to newly hired
employees in connection with commencement of employment with the
Company.
The stock options were granted on November 16, 2022 at an
exercise price of $2.24 per share, which is equal to the closing
price of Geron common stock on the date of grant. Stock options
representing an aggregate of 470,000 shares have a 10-year term and
vest over four years, with 12.5% of the shares underlying the
options vesting on the six-month anniversary of commencement of
employment for the respective employees 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. Stock options representing an aggregate
of 96,890 shares have a 10-year term and vest in full upon
achievement of certain regulatory milestones, subject to continued
employment with Geron through the applicable vesting dates. All of
the stock options were granted as material inducement to employment
in accordance with Nasdaq Listing Rule 5635(c)(4) and are subject
to the terms and conditions of the stock option agreements covering
the grants 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 biopharmaceutical company pursuing
therapies with the potential to extend and enrich the lives of
patients living with hematologic malignancies. Our first-in-class
telomerase inhibitor, imetelstat, harnesses Nobel Prize-winning
science in a treatment that may alter the underlying drivers of
disease. Geron currently has two Phase 3 pivotal clinical trials
underway evaluating imetelstat in lower risk myelodysplastic
syndromes (LR MDS), and in relapsed/refractory myelofibrosis (MF).
To learn more, visit www.geron.com or follow us on LinkedIn.
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version on businesswire.com: https://www.businesswire.com/news/home/20221117005319/en/
Aron Feingold Investor and Media Relations investor@geron.com
media@geron.com
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