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

Rhea-AI Summary

BioCryst Pharmaceuticals (BCRX) announced the grant of stock options and restricted stock units (RSUs) to 31 newly-hired employees, totaling 213,500 shares in options and 24,700 shares in RSUs. The options have an exercise price of $15.45 per share, equal to the stock's closing price on January 31, 2022. Vesting occurs in four equal annual installments, starting one year after the grant date, contingent upon continued employment. This initiative aligns with Nasdaq Listing Rule 5635(c)(4) and aims to attract and retain talent within the company.

Positive

• Inducement of 31 newly-hired employees with stock options and RSUs enhances talent acquisition.
• Stock options and RSUs potentially align employee interests with shareholder value.

Negative

• Dilution risk for existing shareholders due to the issuance of new shares.

RESEARCH TRIANGLE PARK, N.C., Feb. 03, 2022 (GLOBE NEWSWIRE) -- BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) today announced that the compensation committee of BioCryst’s board of directors granted 31 newly-hired employees stock options to purchase an aggregate of 213,500 shares, and restricted stock units (RSUs) covering an aggregate of 24,700 shares, of BioCryst common stock. The options and RSUs were granted as of January 31, 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 $15.45 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, the European Union, Japan, the United Kingdom and the United Arab Emirates. 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) has received regulatory approval in the U.S., Canada, Australia, Japan, Taiwan and Korea. Post-marketing commitments for RAPIVAB are 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 stock options were granted by BioCryst Pharmaceuticals on January 31, 2022?

BioCryst granted stock options for 213,500 shares and RSUs for 24,700 shares to new employees.

What is the exercise price of the stock options granted to new employees at BioCryst?

The exercise price for the stock options is $15.45 per share.

How does the stock option grant affect BioCryst Pharmaceuticals' stock?

The issuance of stock options can result in dilution of existing shares, potentially impacting shareholders.

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

The options and RSUs vest in four equal annual installments, starting one year after the grant date.

What compliance rule did BioCryst follow for the stock options grant?

The grant complies with Nasdaq Listing Rule 5635(c)(4).