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

Rhea-AI Summary

BioCryst Pharmaceuticals announced the inducement grants under Nasdaq Listing Rule 5635(c)(4) for five newly-hired employees. The grants include stock options for an aggregate of 46,850 shares and restricted stock units (RSUs) for 19,435 shares of BioCryst common stock. These grants were made on June 28, 2024, as a material inducement for the new employees to join. The stock options have an exercise price of $6.18, equal to BioCryst's closing price on the grant date, and a 10-year term.

The options and RSUs will vest in four equal annual installments starting one year from the grant date, contingent on continued employment. The grants are governed by BioCryst's Inducement Equity Incentive Plan and related agreements.

Positive

• The inducement grants may attract and retain skilled employees, potentially boosting company performance.
• Grants align employee interests with shareholder value through stock options and RSUs.

Negative

• Issuing additional shares through stock options and RSUs could lead to dilution of existing shareholder value.

RESEARCH TRIANGLE PARK, N.C., July 02, 2024 (GLOBE NEWSWIRE) -- BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) today announced that the compensation committee of BioCryst’s board of directors granted five newly-hired employees stock options to purchase an aggregate of 46,850 shares, and restricted stock units (RSUs) covering an aggregate of 19,435 shares, of BioCryst common stock. The options and RSUs were granted as of June 28, 2024, as inducements material to each employee entering into employment with BioCryst. The options and RSUs were granted in accordance with Nasdaq Listing Rule 5635(c)(4).

The options have an exercise price of $6.18 per share, which is equal to the closing price of BioCryst common stock on the grant date. The options and RSUs vest in four equal annual installments beginning on the one-year anniversary of the grant date, in each case subject to the new employee’s continued service with the company. Each stock option has a 10-year term. The options and RSUs are subject to the terms and conditions of BioCryst’s Inducement Equity Incentive Plan and a stock option agreement or restricted stock unit agreement, as applicable, covering the grant.

About BioCryst Pharmaceuticals
BioCryst Pharmaceuticals is a global biotechnology company with a deep commitment to improving the lives of people living with complement-mediated and other rare diseases. BioCryst leverages its expertise in structure-guided drug design to develop first-in-class or best-in-class oral small-molecule and protein therapeutics to target difficult-to-treat diseases. BioCryst has commercialized ORLADEYO^® (berotralstat), the first oral, once-daily plasma kallikrein inhibitor, and is advancing a pipeline of small-molecule and protein therapies. For more information, please visit www.biocryst.com or follow us on LinkedIn.

BCRXW

Contact:
John Bluth
+1 919 859 7910
jbluth@biocryst.com

FAQ

What stock options did BioCryst grant under Nasdaq Rule 5635(c)(4)?

BioCryst granted stock options for an aggregate of 46,850 shares to newly-hired employees as of June 28, 2024.

What is the exercise price of the new BioCryst stock options?

The exercise price for the new stock options is $6.18 per share.

When will BioCryst's new stock options and RSUs vest?

The stock options and RSUs will vest in four equal annual installments starting one year from the grant date.

How many RSUs did BioCryst grant under Nasdaq Rule 5635(c)(4)?

BioCryst granted restricted stock units (RSUs) covering an aggregate of 19,435 shares.

What is the term of the stock options granted by BioCryst?

Each stock option has a 10-year term.