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

Rhea-AI Summary

BioCryst Pharmaceuticals (BCRX) granted stock options and restricted stock units (RSUs) to 19 newly-hired employees on March 31, 2022. The total stock options cover 124,800 shares and RSUs cover 47,400 shares, with an exercise price of $16.26 per share, equivalent to the closing stock price on the grant date. The options and RSUs vest annually over four years, contingent on continued employment. This action complies with Nasdaq Listing Rule 5635(c)(4) and aligns with BioCryst’s Inducement Equity Incentive Plan.

Positive

• Stock options granted to 19 new employees may enhance company talent retention.
• The exercise price of $16.26 reflects the stock's market value at the time of grant.

Negative

• None.

RESEARCH TRIANGLE PARK, N.C., April 05, 2022 (GLOBE NEWSWIRE) -- BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) today announced that the compensation committee of BioCryst’s board of directors granted 19 newly-hired employees stock options to purchase an aggregate of 124,800 shares, and restricted stock units (RSUs) covering an aggregate of 47,400 shares, of BioCryst common stock. The options and RSUs were granted as of March 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 $16.26 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 March 31, 2022?

BioCryst Pharmaceuticals granted stock options to purchase 124,800 shares and RSUs covering 47,400 shares on March 31, 2022.

What is the significance of the exercise price set at $16.26 for BioCryst's stock options?

The exercise price of $16.26 is equal to BioCryst's closing stock price on the grant date, indicating that options were granted at market value.

How do vesting conditions work for BioCryst's stock options and RSUs?

The stock options and RSUs vest in four equal annual installments, starting one year after the grant date, contingent on continued employee service.

Which Nasdaq rule did BioCryst comply with regarding the stock grants?

BioCryst's stock grants complied with Nasdaq Listing Rule 5635(c)(4).