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

Rhea-AI Summary

BioCryst Pharmaceuticals (Nasdaq: BCRX) has announced inducement grants for 10 newly-hired employees. The compensation committee approved stock options to purchase 52,750 shares and restricted stock units (RSUs) covering 36,975 shares of BioCryst common stock, granted on December 31, 2024.

The stock options have an exercise price of $7.52 per share, matching the closing price on the grant date. Both options and RSUs will vest in four equal annual installments, starting from the one-year anniversary of the grant date, contingent on continued employment. The stock options have a 10-year term and were granted under Nasdaq Listing Rule 5635(c)(4) as employment inducements.

Positive

• Company demonstrates ability to attract new talent with equity compensation packages
• Stock options are priced at market value, aligning employee interests with shareholders

Negative

• Potential future dilution for existing shareholders from 89,725 new shares (52,750 options + 36,975 RSUs)

RESEARCH TRIANGLE PARK, N.C., Jan. 06, 2025 (GLOBE NEWSWIRE) -- BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) today announced that the compensation committee of BioCryst’s board of directors granted 10 newly-hired employees stock options to purchase an aggregate of 52,750 shares, and restricted stock units (RSUs) covering an aggregate of 36,975 shares, of BioCryst common stock. The options and RSUs were granted as of December 31, 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 $7.52 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 hereditary angioedema 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 shares were granted in BioCryst's (BCRX) December 2024 inducement grants?

BioCryst granted options for 52,750 shares and RSUs covering 36,975 shares, totaling 89,725 shares.

What is the exercise price for BCRX's December 2024 inducement stock options?

The stock options have an exercise price of $7.52 per share, equal to the closing price on December 31, 2024.

What is the vesting schedule for BCRX's December 2024 inducement grants?

Both options and RSUs vest in four equal annual installments, beginning one year from the grant date.

How long is the term of BCRX's December 2024 inducement stock options?

The stock options have a 10-year term.