Verastem Oncology Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
April 04 2022 - 4:05PM
Business Wire
Verastem Oncology (Nasdaq:VSTM), a biopharmaceutical company
committed to advancing new medicines for patients with cancer,
today announced the grant of stock options to purchase 435,750
shares of its common stock and the grant of 240,900 restricted
stock units (RSUs) to nine new employees. The awards were granted
pursuant to the Nasdaq inducement grant exception as an inducement
material to the employees’ acceptance of employment with Verastem
Oncology in accordance with Nasdaq Listing Rule 5635(c)(4). The
stock options to purchase 360,750 shares of Verastem Oncology’s
common stock and the 240,900 RSUs 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. A stock option to purchase 75,000 shares of
Verastem Oncology’s common stock will vest upon the achievement of
certain business milestones, provided the employee continues to
serve as an employee of or other service provider to Verastem
Oncology on such vesting dates. The stock options have an exercise
price equal to $1.43 per share, the closing price of Verastem
Oncology's common stock as reported by Nasdaq on April 1, 2022.
About Verastem Oncology
Verastem Oncology (Nasdaq: VSTM) (Verastem, Inc.) is a
development-stage biopharmaceutical company committed to the
development and commercialization of new medicines to improve the
lives of patients diagnosed with cancer. Our pipeline is focused on
novel small molecule drugs that inhibit critical signaling pathways
in cancer that promote cancer cell survival and tumor growth,
including RAF/MEK inhibition and FAK inhibition. For more
information, please visit www.verastem.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20220404005900/en/
Investors:
Ajay Munshi VP, Corporate Development +1 781-469-1579
amunshi@verastem.com
Nate LiaBraaten +1 212-600-1902 nate@argotpartners.com
Media:
Lisa Buffington VP, Corporate Communications +1 781-292-4205
lbuffington@verastem.com
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