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

Rhea-AI Summary

BioCryst Pharmaceuticals, Inc. granted three newly-hired employees stock options and RSUs as inducements for entering employment. The options and RSUs total 16,050 and 11,300 shares respectively, with an exercise price of $5.63 per share. They vest in four equal annual installments, subject to continued service.

RESEARCH TRIANGLE PARK, N.C., March 05, 2024 (GLOBE NEWSWIRE) -- BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) today announced that the compensation committee of BioCryst’s board of directors granted three newly-hired employees stock options to purchase an aggregate of 16,050 shares, and restricted stock units (RSUs) covering an aggregate of 11,300 shares, of BioCryst common stock. The options and RSUs were granted as of February 29, 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 $5.63 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.

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

FAQ

What inducements did BioCryst Pharmaceuticals, Inc. provide to newly-hired employees?

BioCryst Pharmaceuticals, Inc. granted stock options and RSUs totaling 16,050 and 11,300 shares respectively.

What is the exercise price for the stock options granted by BioCryst Pharmaceuticals, Inc.?

The exercise price for the stock options is $5.63 per share, equivalent to the closing price of BioCryst common stock on the grant date.

How do the options and RSUs granted by BioCryst Pharmaceuticals, Inc. vest?

The options and RSUs vest in four equal annual installments beginning on the one-year anniversary of the grant date, contingent on the new employee's continued service.

What is the term for each stock option granted by BioCryst Pharmaceuticals, Inc.?

Each stock option has a 10-year term.