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

Rhea-AI Summary

BioCryst Pharmaceuticals, Inc. announced that the compensation committee of BioCryst's board of directors granted 11 newly-hired employees stock options to purchase 80,700 shares and restricted stock units (RSUs) covering 38,600 shares of BioCryst common stock. The options and RSUs were granted on October 31, 2023, with an exercise price of $5.49 per share, equal to the closing price on the grant date. They vest in four equal annual installments starting on the one-year anniversary of the grant date, subject to the new employee's continued service with the company.

RESEARCH TRIANGLE PARK, N.C., Nov. 06, 2023 (GLOBE NEWSWIRE) -- BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) today announced that the compensation committee of BioCryst’s board of directors granted 11 newly-hired employees stock options to purchase an aggregate of 80,700 shares, and restricted stock units (RSUs) covering an aggregate of 38,600 shares, of BioCryst common stock. The options and RSUs were granted as of October 31, 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 $5.49 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

What did BioCryst Pharmaceuticals announce?

BioCryst Pharmaceuticals announced the granting of stock options and restricted stock units (RSUs) to newly-hired employees.

How many shares were granted to the employees?

The employees were granted stock options to purchase 80,700 shares and RSUs covering 38,600 shares of BioCryst common stock.

What is the exercise price of the stock options?

The exercise price of the stock options is $5.49 per share.

When do the options and RSUs vest?

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

What are the conditions for vesting?

The options and RSUs vest subject to the new employee's continued service with the company.