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

Rhea-AI Summary

BioCryst Pharmaceuticals, Inc. has granted stock options and restricted stock units (RSUs) to six newly-hired employees. The options and RSUs were granted in accordance with Nasdaq Listing Rule 5635(c)(4) and have an exercise price of $7.61 per share. They will vest in four equal annual installments starting on the one-year anniversary of the grant date. Each stock option has a 10-year term.

Positive

• BioCryst Pharmaceuticals, Inc. granted stock options and RSUs to newly-hired employees, which can incentivize and retain talent.

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• None.

RESEARCH TRIANGLE PARK, N.C., May 04, 2023 (GLOBE NEWSWIRE) -- BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) today announced that the compensation committee of BioCryst’s board of directors granted six newly-hired employees stock options to purchase an aggregate of 34,000 shares, and restricted stock units (RSUs) covering an aggregate of 23,800 shares, of BioCryst common stock. The options and RSUs were granted as of April 28, 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 $7.61 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

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

FAQ

What did BioCryst Pharmaceuticals announce today?

BioCryst Pharmaceuticals announced that they granted stock options and restricted stock units (RSUs) to newly-hired employees.

How many shares were granted to the employees?

A total of 34,000 shares through stock options and 23,800 shares through RSUs were granted.

What is the exercise price of the stock options?

The exercise price of the stock options is $7.61 per share.

When will the options and RSUs vest?

The options and RSUs will vest in four equal annual installments starting on the one-year anniversary of the grant date.

What is the term of each stock option?

Each stock option has a 10-year term.