Olema Oncology Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
June 04 2024 - 4:28PM
Olema Pharmaceuticals, Inc. (“Olema” or “Olema Oncology”, Nasdaq:
OLMA), a clinical-stage biopharmaceutical company focused on the
discovery, development, and commercialization of targeted therapies
for women’s cancers, today announced that the Company granted stock
options to four new employees to purchase an aggregate of 51,600
shares of the Company's common stock, effective as of June 3, 2024.
These awards were approved by the Compensation Committee of Olema’s
Board of Directors and granted under the Company's 2022 Inducement
Plan, with a grant date of June 3, 2024, as an inducement material
to the new employees entering into employment with Olema, in
accordance with Nasdaq Listing Rule 5635(c)(4).
The stock options vest over four years, with 25 percent vesting
on the first anniversary of the vesting commencement date for such
employee and the remainder vesting in 36 equal monthly installments
over the following three years, subject to the employee being
continuously employed by Olema as of such vesting dates. The stock
options have a 10-year term and an exercise price of $11.76 per
share, equal to the last reported sale price of the Company's
common stock as reported by Nasdaq on June 3, 2024. The stock
options are subject to the terms of the Olema Pharmaceuticals,
Inc., 2022 Inducement Plan.
Olema is providing this information in accordance with Nasdaq
Listing Rule 5635(c)(4).
About Olema OncologyOlema Oncology is a
clinical-stage biopharmaceutical company committed to transforming
the standard of care and improving outcomes for women living with
cancer. Olema is advancing a pipeline of novel therapies by
leveraging our deep understanding of endocrine-driven cancers,
nuclear receptors, and mechanisms of acquired resistance. In
addition to our lead product candidate, palazestrant (OP-1250), a
proprietary, orally-available complete estrogen receptor (ER)
antagonist (CERAN) and a selective ER degrader (SERD), Olema is
developing a potent KAT6 inhibitor (OP-3136). Olema is
headquartered in San Francisco and has operations in Cambridge,
Massachusetts. For more information, please visit us at
www.olema.com.
Contact:Geoffrey Mogilner, Vice President, Investor Relations
and Communicationsir@olema.com
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