Puma Biotechnology Reports Inducement Awards Under Nasdaq Listing Rule 5635(c)(4)
February 07 2020 - 4:55PM
Business Wire
Puma Biotechnology, Inc. (NASDAQ: PBYI), a
biopharmaceutical company, announced that on February 5, 2020 the
Compensation Committee of Puma’s Board of Directors approved the
grant of inducement restricted stock unit awards covering an
aggregate of 78,875 shares of Puma common stock to 14 new
non-executive employees.
The awards were granted under Puma’s 2017 Employment Inducement
Incentive Award Plan, which was adopted on April 27, 2017 and
provides for the granting of equity awards to new employees of
Puma. The restricted stock unit awards vest over a three-year
period, with one-third of the shares underlying each award vesting
on the first anniversary of the award’s vesting commencement date,
February 1, 2020, and one-sixth of the shares underlying each award
vesting on each six-month anniversary of the vesting commencement
date thereafter, subject to continued service. The awards were
granted as an inducement material to the new employees entering
into employment with Puma, in accordance with Nasdaq Listing Rule
5635(c)(4).
About Puma Biotechnology
Puma Biotechnology, Inc. is a biopharmaceutical company with a
focus on the development and commercialization of innovative
products to enhance cancer care. The Company in-licenses the global
development and commercialization rights to PB272 (neratinib,
oral), PB272 (neratinib, intravenous) and PB357. Neratinib, oral
was approved by the U.S. Food and Drug Administration in July 2017
for the extended adjuvant treatment of adult patients with early
stage HER2-overexpressed/amplified breast cancer, following
adjuvant trastuzumab-based therapy, and is marketed in the United
States as NERLYNX® (neratinib) tablets. NERLYNX was granted
marketing authorization by the European Commission in August 2018
for the extended adjuvant treatment of adult patients with early
stage hormone receptor-positive HER2-overexpressed/amplified breast
cancer and who are less than one year from completion of prior
adjuvant trastuzumab-based therapy. NERLYNX is a registered
trademark of Puma Biotechnology, Inc.
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version on businesswire.com: https://www.businesswire.com/news/home/20200207005504/en/
Alan H. Auerbach or Mariann Ohanesian, Puma Biotechnology, Inc.,
+1 424 248 6500 info@pumabiotechnology.com
ir@pumabiotechnology.com
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