Geron Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Geron Corporation (Nasdaq: GERN) today reported that it has granted non-statutory stock options to purchase an aggregate of 365,800 shares of Geron common stock as inducements to newly hired employees in connection with commencement of employment with the Company.

Metadata
Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Thursday, August 18, 2022
Information
Tags: 
Oncology, Health, Genetics, Clinical Trials, Pharmaceutical, Biotechnology, Company, Lymphatic system, Employment, Risk, Nasdaq, Corporation, Geron Corporation, Microdeletion syndrome, Health insurance
Geotags: 
CALIFORNIA, UNITED STATES, NORTH AMERICA, GERON
⚠ generated by AI ↴
Organisation: 
GERON
Stock Symbol: 
NASDAQ:GERN
Summary
Key Points: 
  • Geron Corporation (Nasdaq: GERN) today reported that it has granted non-statutory stock options to purchase an aggregate of 365,800 shares of Geron common stock as inducements to newly hired employees in connection with commencement of employment with the Company.
  • The stock options were granted on August 17, 2022 at an exercise price of $2.15 per share, which is equal to the closing price of Geron common stock on the date of grant.
  • The options were granted as material inducement to employment in accordance with Nasdaq Listing Rule 5635(c)(4) and are subject to the terms and conditions of the stock option agreements covering the grants and Gerons 2018 Inducement Award Plan, which was adopted December 14, 2018 and provides for the granting of stock options to new employees.
  • Geron is a late-stage clinical biopharmaceutical company focused on the development and potential commercialization of a first-in-class telomerase inhibitor, imetelstat, in hematologic malignancies.


Geron Corporation (Nasdaq: GERN) today reported that it has granted non-statutory stock options to purchase an aggregate of 365,800 shares of Geron common stock as inducements to newly hired employees in connection with commencement of employment with the Company.

The stock options were granted on August 17, 2022 at an exercise price of $2.15 per share, which is equal to the closing price of Geron common stock on the date of grant. The stock options have a 10-year term and vest over four years, with 12.5% of the shares underlying the options vesting on the six-month anniversary of commencement of employment for the respective employees and the remaining shares vesting over the following 42 months in equal installments of whole shares, subject to continued employment with Geron through the applicable vesting dates. The options were granted as material inducement to employment in accordance with Nasdaq Listing Rule 5635(c)(4) and are subject to the terms and conditions of the stock option agreements covering the grants and Geron’s 2018 Inducement Award Plan, which was adopted December 14, 2018 and provides for the granting of stock options to new employees.

About Geron

Geron is a late-stage clinical biopharmaceutical company focused on the development and potential commercialization of a first-in-class telomerase inhibitor, imetelstat, in hematologic malignancies. The Company currently is conducting two Phase 3 clinical trials: IMerge in lower risk myelodysplastic syndromes and IMpactMF in refractory myelofibrosis.

Copyright: 
Copyright Business Wire 2022