Verastem Oncology Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
April 07 2020 - 4:05PM
Business Wire
Verastem, Inc. (Nasdaq:VSTM) (Verastem Oncology or the Company),
a biopharmaceutical company focused on developing and
commercializing medicines to improve the survival and quality of
life of cancer patients, today announced the grant of options to
purchase 127,500 shares of its common stock to nine new employees.
The awards were granted as an inducement material to the employees'
acceptance of employment with Verastem Oncology in accordance with
Nasdaq Listing Rule 5635(c)(4). The options have an exercise price
equal to $2.48 per share, the closing price of Verastem Oncology's
common stock as reported by Nasdaq on April 1, 2020. The stock
options that were granted to the nine new employees will vest at a
rate of twenty-five percent (25%) on the one year anniversary of
the employee's date of hire, with the remaining shares vesting
quarterly over the next three (3) years in equal quarterly amounts,
provided the employees continue to serve as employees of or other
service providers to Verastem Oncology on each such vesting
date.
About Verastem Oncology
Verastem Oncology (Nasdaq: VSTM) is a commercial
biopharmaceutical company committed to the development and
commercialization of medicines to improve the lives of patients
diagnosed with cancer. We are driven by the strength, tenacity and
courage of those battling cancer – single-minded in our resolve to
deliver new therapies that not only keep cancer at bay, but improve
the lives of patients diagnosed with cancer. Because for us, it’s
personal.
Our first FDA approved product is now available for the
treatment of patients with certain types of indolent non-Hodgkin’s
lymphoma (iNHL). Our pipeline comprises product candidates that
seek to treat cancer by modulating the local tumor
microenvironment. For more information, please visit
www.verastem.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20200407005633/en/
Investors: John Doyle Vice President, Investor Relations &
Finance +1 781-292-4279 jdoyle@verastem.com Media: Lisa Buffington
Corporate Communications +1 781-292-4205
lbuffington@verastem.com
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