Geron Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
May 19 2022 - 4:30PM
Business Wire
Geron Corporation (Nasdaq: GERN) today reported that it has
granted non-statutory stock options to purchase an aggregate of
327,400 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 May 18, 2022 at an exercise
price of $1.30 per share, which is equal to the closing price of
Geron common stock on the date of grant. The stock options 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. The 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 clinical biopharmaceutical company focused
on the development and potential commercialization of a
first-in-class telomerase inhibitor, imetelstat, in hematologic
malignancies. The Company currently is conducting two Phase 3
clinical trials: IMerge in lower risk myelodysplastic syndromes and
IMpactMF in refractory myelofibrosis.
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version on businesswire.com: https://www.businesswire.com/news/home/20220519005359/en/
Aron Feingold Investor and Media Relations investor@geron.com
media@geron.com
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