Verastem Oncology Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
January 05 2024 - 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 19,251
shares of its common stock to six 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 $8.30
per share, the closing price of Verastem Oncology’s common stock as
reported by Nasdaq on January 2, 2024. The stock options to
purchase 19,251 shares of common stock that were granted to the six
new employee will vest at a rate of twenty-five percent (25%) on
the one-year anniversary of each employee’s date of hire, with the
remaining shares vesting quarterly over the next three (3) years in
equal quarterly amounts, provided the employee continues to serve
as an employee of or other service provider 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/20240105841478/en/
Investors: Ryan Porter +1 212-600-1902
ryan.porter@argotpartners.com Media: Lisa Buffington Corporate
Communications +1 781-292-4502 lbuffington@verastem.com
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