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

Rhea-AI Summary

BioCryst Pharmaceuticals (Nasdaq: BCRX) announced on October 4, 2022, that its compensation committee granted stock options and restricted stock units (RSUs) to 33 new employees. The total of 522,808 shares in options and 166,916 shares in RSUs were issued as inducements to employment, effective as of September 30, 2022. The options have an exercise price of $12.60 per share, matching the stock's closing price on the grant date, and will vest in four annual installments. This initiative aligns with Nasdaq Listing Rule 5635(c)(4).

Positive

• New stock options and RSUs granted to 33 employees could enhance talent acquisition and retention.
• Stock options priced at $12.60 per share align with the company's market value, encouraging additional investment interest.

Negative

• None.

RESEARCH TRIANGLE PARK, N.C., Oct. 04, 2022 (GLOBE NEWSWIRE) -- BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) today announced that the compensation committee of BioCryst’s board of directors granted 33 newly-hired employees stock options to purchase an aggregate of 522,808 shares, and restricted stock units (RSUs) covering an aggregate of 166,916 shares, of BioCryst common stock. The options and RSUs were granted as of September 30, 2022 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 $12.60 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 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 multiple global markets. BioCryst has several ongoing development programs including BCX9930, an oral Factor D inhibitor for the treatment of complement-mediated diseases, BCX9250, an ALK-2 inhibitor for the treatment of fibrodysplasia ossificans progressiva, and galidesivir, a potential treatment for Marburg virus disease and yellow fever. 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
+1 917 886 5586
ckyroulis@biocryst.com

FAQ

What recent stock option grants did BioCryst Pharmaceuticals announce?

BioCryst Pharmaceuticals announced the granting of stock options and RSUs to 33 new employees, totaling 522,808 options and 166,916 RSUs.

What is the exercise price of the stock options granted by BioCryst Pharmaceuticals?

The stock options granted by BioCryst Pharmaceuticals have an exercise price of $12.60 per share.

When do the stock options and RSUs granted by BioCryst Pharmaceuticals vest?

The stock options and RSUs granted by BioCryst Pharmaceuticals vest in four equal annual installments starting from the one-year anniversary of the grant date.

Why were stock options and RSUs granted by BioCryst Pharmaceuticals?

The stock options and RSUs were granted as inducements material to the new employees entering into employment with BioCryst.

How does the stock option grant align with Nasdaq regulations?

The grants were made in accordance with Nasdaq Listing Rule 5635(c)(4), which governs equity awards.