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

Rhea-AI Summary

BioCryst Pharmaceuticals, Inc. has granted seven newly-hired employees stock options to purchase 38,600 shares and restricted stock units (RSUs) covering 26,450 shares of BioCryst common stock. The options and RSUs were granted as inducements for the employees to join the company. The options have an exercise price of $7.39 per share, and both options and RSUs vest in four equal annual installments starting from the one-year anniversary of the grant date.

RESEARCH TRIANGLE PARK, N.C., Aug. 04, 2023 (GLOBE NEWSWIRE) -- BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) today announced that the compensation committee of BioCryst’s board of directors granted seven newly-hired employees stock options to purchase an aggregate of 38,600 shares, and restricted stock units (RSUs) covering an aggregate of 26,450 shares, of BioCryst common stock. The options and RSUs were granted as of July 31, 2023, 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 $7.39 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 discovers novel, oral, small-molecule medicines that treat rare diseases in which significant unmet medical needs exist and an enzyme plays a key role in the biological pathway of the disease. Oral, once-daily ORLADEYO^® (berotralstat) is approved in the United States and many global markets. BioCryst has active programs to develop oral medicines for multiple targets across the complement system, including BCX10013, an oral Factor D inhibitor in clinical development. RAPIVAB^® (peramivir injection) is approved in the U.S. and multiple global markets, with post-marketing commitments ongoing. For more information, please visit the company’s website at www.biocryst.com.

BCRXW

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

FAQ

What did BioCryst Pharmaceuticals announce?

BioCryst Pharmaceuticals announced the granting of stock options and restricted stock units (RSUs) to newly-hired employees.

How many shares were granted as stock options?

A total of 38,600 shares were granted as stock options.

How many shares were covered by the restricted stock units (RSUs)?

The restricted stock units (RSUs) covered 26,450 shares.

What is the exercise price for the stock options?

The exercise price for the stock options is $7.39 per share.

When do the options and RSUs vest?

Both the options and RSUs vest in four equal annual installments starting from the one-year anniversary of the grant date.