Cullinan Oncology Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
April 04 2022 - 4:34PM
Cullinan Oncology, Inc. (Nasdaq: CGEM) (“Cullinan”) today announced
that the compensation committee of the Company's Board of Directors
granted stock option awards to purchase an aggregate of 279,100
shares of its common stock to four employees outside Cullinan
Oncology, Inc’s 2021 Stock Option and Incentive Plan. The stock
options were granted as an inducement material to the individuals
entering into employment with Cullinan, in accordance with Nasdaq
Listing Rule 5635(c)(4).
Three employees received options to purchase an aggregate of
129,100 shares of Cullinan’s common stock on April 1, 2022, and
have an exercise price of $10.99, which is equal to the closing
price of Cullinan’s common stock on April 1, 2022. On April 4, an
employee was issued an option to purchase 150,000 shares of
Cullinan’s common stock with an exercise price of $12.04 per share,
which is equal to the closing price of Cullinan’s common stock on
April 4, 2022. Each option has a ten-year term and vests over four
years, with 25 percent of the original number of shares underlying
each option vesting on the one-year anniversary of the vesting
commencement date and then in equal installments for 36 months
thereafter, subject to the employee's continued service with
Cullinan through the applicable vesting dates.
About Cullinan Oncology
Cullinan Oncology is a biopharmaceutical company that is
developing a diversified pipeline of targeted therapeutic
candidates across multiple modalities in order to bring important
medicines to cancer patients. The Company’s strategy is to source
innovation through both internal discovery efforts and external
collaborations, focusing on advanced stage assets with novel
technology platforms and differentiated mechanisms. Learn more
about Cullinan at www.cullinanoncology.com.
Contacts
Investor RelationsChad Messer+1
203.464.8900cmesser@cullinanoncology.com
MediaRose Weldon+1 215.801.7644rweldon@cullinanoncology.com
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