ALX Oncology Reports Inducement Grant as permitted by the Nasdaq Listing Rules
ALX Oncology Holdings (Nasdaq: ALXO) announced that its Compensation Committee granted an inducement stock option to purchase 600,000 shares of common stock to new Chief Financial Officer Harish Shantharam, effective January 21, 2025. The stock option, granted under the company's 2025 Inducement Equity Incentive Plan, has an exercise price of $1.65 per share, matching the closing price on the grant date.
The vesting schedule includes 25% of shares vesting after one year from the grant date, with the remaining shares vesting monthly at one forty-eighth of the total over the following three years, contingent on continued employment. The grant was made as a material inducement for employment in accordance with Nasdaq Listing Rule 5635(c)(4).
ALX Oncology Holdings (Nasdaq: ALXO) ha annunciato che il suo Comitato per la Compensazione ha concesso un'opzione di acquisto di azioni come indennizzo al nuovo Direttore Finanziario Harish Shantharam, a partire dal 21 gennaio 2025. L'opzione sulle azioni, concessa nell'ambito del Piano di Incentivazione Azionaria per il 2025 dell'azienda, ha un prezzo di esercizio di $1.65 per azione, corrispondente al prezzo di chiusura alla data di concessione.
Il piano di maturazione prevede che il 25% delle azioni maturi dopo un anno dalla data di concessione, con le azioni rimanenti che maturano mensilmente a un quarantottesimo del totale nei successivi tre anni, a condizione di continuare a essere impiegati. La concessione è stata effettuata come incentivo materiale per l'impiego in conformità con la Regola di Quotazione Nasdaq 5635(c)(4).
ALX Oncology Holdings (Nasdaq: ALXO) anunció que su Comité de Compensación otorgó una opción de compra de acciones como incentivo al nuevo Director Financiero Harish Shantharam, con efecto a partir del 21 de enero de 2025. La opción de acciones, otorgada bajo el Plan de Incentivo de Capital 2025 de la empresa, tiene un precio de ejercicio de $1.65 por acción, coincidiendo con el precio de cierre en la fecha de concesión.
El cronograma de adquisición incluye el 25% de las acciones que se adquirirán después de un año desde la fecha de concesión, y las acciones restantes que se adquirirán mensualmente a un cuadragésimo octavo del total durante los siguientes tres años, sujeto a la continuación del empleo. La concesión se realizó como un incentivo material para la contratación de acuerdo con la Regla de Cotización de Nasdaq 5635(c)(4).
ALX Oncology Holdings (Nasdaq: ALXO)는 보상위원회가 새로운 최고 재무 책임자 Harish Shantharam에게 600,000 주의 보통주 매수 선택권을 부여했다고 발표했습니다. 이 선택권은 2025년 1월 21일부터 유효하며, 회사의 2025 유인 주식 인센티브 계획에 따라 부여되었습니다. 매수 가격은 $1.65 per share로, 부여 당일 종가와 일치합니다.
주식의 취득 일정은 부여일로부터 1년 후에 25%의 주식이 취득되고, 이후 3년 동안 나머지 주식이 매월 48분의 1씩 취득되는 조건으로, 고용이 계속되어야 합니다. 이 부여는 Nasdaq 상장 규칙 5635(c)(4)에 따른 고용 유인으로 이루어졌습니다.
ALX Oncology Holdings (Nasdaq: ALXO) a annoncé que son Comité de Rémunération a accordé une option d'achat d'actions d'incitation au nouveau Directeur Financier Harish Shantharam, prenant effet le 21 janvier 2025. L'option sur les actions, accordée dans le cadre du Plan d'Incitation en Actions 2025 de l'entreprise, a un prix d'exercice de $1,65 par action, correspondant au prix de clôture à la date d'attribution.
Le calendrier d'acquisition comprend 25 % des actions qui acquièrent des droits après un an à partir de la date d'attribution, les actions restantes acquisant des droits mensuellement à un quarante-huitième du total au cours des trois années suivantes, sous réserve d'un emploi continu. L'attribution a été faite comme un élément d'incitation matériel pour l'emploi conformément à la Règle de Cotation Nasdaq 5635(c)(4).
ALX Oncology Holdings (Nasdaq: ALXO) gab bekannt, dass sein Vergütungsausschuss eine Induktionsaktieoption zum Kauf von 600.000 Aktien des Stammkapitals an den neuen Finanzvorstand Harish Shantharam, wirksam ab dem 21. Januar 2025, gewährt hat. Die Aktienoption, die im Rahmen des Aktienoptionsplans für 2025 des Unternehmens gewährt wurde, hat einen Ausübungspreis von $1,65 pro Aktie, was dem Schlusskurs am Tag der Gewährung entspricht.
Der Vesting-Zeitplan sieht vor, dass 25 % der Aktien nach einem Jahr ab dem Gewährungsdatum ausgereift sind, wobei die restlichen Aktien monatlich mit einem Achtundvierzigstel des Gesamten in den folgenden drei Jahren ausgereift werden, vorbehaltlich einer weiteren Anstellung. Die Gewährung wurde als wesentliche Voraussetzung für die Beschäftigung gemäß der Nasdaq-Listungsregel 5635(c)(4) vorgenommen.
- Successful recruitment of new Chief Financial Officer
- Stock options align executive interests with shareholders
- Potential future dilution from 600,000 shares of stock options
- Low stock price of $1.65 indicates challenging market conditions
SOUTH SAN FRANCISCO, Calif., Jan. 22, 2025 (GLOBE NEWSWIRE) -- ALX Oncology Holdings, Inc. (“ALX Oncology” or the “Company”), (Nasdaq: ALXO), a clinical-stage biotechnology company advancing therapies that boost the immune system to treat cancer and extend patients’ lives, today announced that effective January 21, 2025, the Compensation Committee of the Board of Directors of ALX Oncology granted an inducement stock option to purchase a total of 600,000 shares of ALX Oncology’s common stock to Harish Shantharam, the Company’s Chief Financial Officer, in connection with the commencement of his employment. Mr. Shantharam’s inducement stock option is subject to the terms of the ALX Oncology Holdings Inc. 2025 Inducement Equity Incentive Plan and related forms of agreements, and were granted as inducements material to Mr. Shantharam to enter into employment with ALX Oncology in accordance with Nasdaq Listing Rule 5635(c)(4).
The inducement stock option has an exercise price of
About ALX Oncology
ALX Oncology (Nasdaq: ALXO) is a clinical-stage biotechnology company advancing therapies that boost the immune system to treat cancer and extend patients’ lives. ALX Oncology’s lead therapeutic candidate, evorpacept, has demonstrated potential to serve as a cornerstone therapy upon which the future of immuno-oncology can be built. Evorpacept is currently being evaluated across multiple ongoing clinical trials in a wide range of cancer indications. More information is available at www.alxoncology.com and on LinkedIn @ALX Oncology.
Company Contact:
Allison Dillon, Chief Business Officer, ALX Oncology
ir@alxoncology.com
Media Contact:
Audra Friis, Sam Brown, Inc.
audrafriis@sambrown.com
(917) 519-9577
FAQ
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