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

Rhea-AI Summary

BioCryst Pharmaceuticals (BCRX) has granted stock-based compensation to five newly-hired employees as employment inducements. The package includes stock options to purchase 17,400 shares and restricted stock units (RSUs) covering 12,150 shares of common stock. The options were granted at an exercise price of $7.50 per share, matching the closing price on November 29, 2024.

Both options and RSUs will vest over 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 BioCryst's Inducement Equity Incentive Plan in accordance with Nasdaq Listing Rule 5635(c)(4).

RESEARCH TRIANGLE PARK, N.C., Dec. 04, 2024 (GLOBE NEWSWIRE) -- BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) today announced that the compensation committee of BioCryst’s board of directors granted five newly-hired employees stock options to purchase an aggregate of 17,400 shares, and restricted stock units (RSUs) covering an aggregate of 12,150 shares, of BioCryst common stock. The options and RSUs were granted as of November 29, 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 $7.50 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.

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Contact:
John Bluth
+1 919 859 7910
jbluth@biocryst.com

FAQ

What stock compensation did BioCryst (BCRX) grant to new employees on November 29, 2024?

BioCryst granted 17,400 stock options at $7.50 per share and 12,150 restricted stock units (RSUs) to five newly-hired employees.

What is the vesting schedule for BCRX's November 2024 employee stock grants?

The stock options and RSUs vest in four equal annual installments, beginning on the one-year anniversary of the November 29, 2024 grant date.

What was the exercise price for BCRX's stock options granted on November 29, 2024?

The stock options were granted with an exercise price of $7.50 per share, equal to BioCryst's closing stock price on the grant date.