C4 Therapeutics Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
April 29 2024 - 4:01PM
C4 Therapeutics, Inc. (C4T) (Nasdaq: CCCC), a clinical-stage
biopharmaceutical company dedicated to advancing targeted protein
degradation science, today announced that the independent directors
serving on the Organization, Leadership and Compensation Committee
of the Company’s Board of Directors approved the grant of
non-qualified stock options to purchase 146,880 shares of the
Company’s common stock to one new employee (the “Inducement
Grant”), with the grant made on April 29, 2024 (the “Grant Date”).
The Inducement Grant was granted as a material inducement to this
individual entering into employment with C4T in accordance with
Nasdaq Listing Rule 5635(c)(4).
The Inducement Grant has an exercise price per share that is
equal to the closing price of C4T’s common stock on the Grant Date.
The Inducement Grant will vest over a four-year period, with 25% of
the shares vesting on the first-year anniversary of the employee’s
start date, with the remainder of the shares vesting in twelve
equal quarterly installments thereafter, subject to the employee’s
continued employment with C4T through each vesting date.
About C4 Therapeutics
C4 Therapeutics (C4T) (Nasdaq: CCCC) is a clinical-stage
biopharmaceutical company dedicated to delivering on the promise of
targeted protein degradation science to create a new generation of
medicines that transforms patients’ lives. C4T is progressing
targeted oncology programs through clinical studies and leveraging
its TORPEDO® platform to efficiently design and optimize
small-molecule medicines to address difficult-to-treat diseases.
C4T’s degrader medicines are designed to harness the body’s natural
protein recycling system to rapidly degrade disease-causing
proteins, offering the potential to overcome drug resistance, drug
undruggable targets and improve patient outcomes. For more
information, please visit www.c4therapeutics.com.
Contacts:
Investors:Courtney SolbergSenior Manager, Investor
RelationsCSolberg@c4therapeutics.com
Media:Loraine SpreenSenior Director, Corporate Communications
& Patient AdvocacyLSpreen@c4therapeutics.com
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