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

Rhea-AI Summary

BioCryst Pharmaceuticals (BCRX) announced the granting of stock options and restricted stock units (RSUs) to 12 newly-hired employees. The total grants include options for 110,400 shares and RSUs for 51,300 shares, effective February 28, 2023. The options have an exercise price of $8.85, aligning with the company's common stock closing price on the grant date. Vesting occurs in four equal annual installments, contingent upon the employees' continued service. This grant complies with Nasdaq Listing Rule 5635(c)(4) and is part of BioCryst's Inducement Equity Incentive Plan.

Positive

• Issuance of stock options and RSUs can motivate employees and align their interests with shareholders.
• The exercise price of $8.85 matches the market price, indicating no immediate dilution.

Negative

• None

RESEARCH TRIANGLE PARK, N.C., March 02, 2023 (GLOBE NEWSWIRE) -- BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) today announced that the compensation committee of BioCryst’s board of directors granted 12 newly-hired employees stock options to purchase an aggregate of 110,400 shares, and restricted stock units (RSUs) covering an aggregate of 51,300 shares, of BioCryst common stock. The options and RSUs were granted as of February 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 $8.85 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

Media Contact:
Catherine Collier Kyroulis
+1 919 886 5586
ckyroulis@biocryst.com

FAQ

What stock options were granted by BioCryst Pharmaceuticals on February 28, 2023?

BioCryst granted stock options for 110,400 shares and restricted stock units for 51,300 shares to newly-hired employees.

What is the exercise price of the stock options granted by BCRX?

The exercise price of the stock options is $8.85 per share.

What is the vesting schedule for the stock options and RSUs granted by BioCryst?

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

Is the stock option grant by BioCryst compliant with Nasdaq rules?

Yes, the grant is in accordance with Nasdaq Listing Rule 5635(c)(4).

How does the stock option grant affect BioCryst's financials?

The grant is intended to incentivize new hires without an immediate impact on financials since it aligns the exercise price with the current market price.