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

Rhea-AI Summary

BioCryst Pharmaceuticals (Nasdaq: BCRX) has announced the granting of stock options and restricted stock units (RSUs) to 21 newly-hired employees as inducement awards. The compensation committee of BioCryst's board of directors approved these grants on September 30, 2024, in accordance with Nasdaq Listing Rule 5635(c)(4).

The inducement package includes:

• Stock options to purchase 71,175 shares of BioCryst common stock
• RSUs covering 50,025 shares of BioCryst common stock

The stock options have an exercise price of $7.60 per share, equal to the closing price of BioCryst common stock on the grant date. Both options and RSUs will vest in four equal annual installments, beginning on the one-year anniversary of the grant date, subject to continued employment. The stock options have a 10-year term.

Positive

• Attraction of new talent with 21 newly-hired employees
• Alignment of employee interests with shareholders through equity-based compensation

Negative

• Potential dilution of existing shareholders' stakes due to new stock options and RSUs

News Market Reaction

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+0.54% News Effect

On the day this news was published, BCRX gained 0.54%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

RESEARCH TRIANGLE PARK, N.C., Oct. 03, 2024 (GLOBE NEWSWIRE) -- BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) today announced that the compensation committee of BioCryst’s board of directors granted 21 newly-hired employees stock options to purchase an aggregate of 71,175 shares, and restricted stock units (RSUs) covering an aggregate of 50,025 shares, of BioCryst common stock. The options and RSUs were granted as of September 30, 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 $7.60 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

How many new employees received stock options and RSUs from BioCryst Pharmaceuticals (BCRX) on September 30, 2024?

BioCryst Pharmaceuticals (BCRX) granted stock options and restricted stock units (RSUs) to 21 newly-hired employees on September 30, 2024.

What is the exercise price of the stock options granted by BioCryst (BCRX) in this inducement award?

The stock options granted by BioCryst (BCRX) have an exercise price of $7.60 per share, which is equal to the closing price of BioCryst common stock on the grant date, September 30, 2024.

How do the stock options and RSUs vest for the new employees of BioCryst Pharmaceuticals (BCRX)?

The stock options and RSUs granted by BioCryst Pharmaceuticals (BCRX) vest in four equal annual installments, beginning on the one-year anniversary of the grant date, subject to the new employee's continued service with the company.

What is the term of the stock options granted by BioCryst (BCRX) in this inducement award?

The stock options granted by BioCryst (BCRX) as part of this inducement award have a 10-year term.