Verastem Oncology Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
July 07 2022 - 7:00AM
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 120,500
shares of its common stock and the grant of 80,400 restricted stock
units (RSUs) to four 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 have an exercise price equal to $1.13 per share, the
closing price of Verastem Oncology's common stock as reported by
Nasdaq on July 1, 2022. The stock options and RSUs that were
granted to the four 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) (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/20220707005057/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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