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

Rhea-AI Summary

BioCryst Pharmaceuticals (Nasdaq: BCRX) has announced the granting of stock options and restricted stock units (RSUs) to nine newly-hired employees. The compensation committee approved options to purchase 28,400 shares and RSUs covering 20,025 shares of BioCryst common stock. These grants, made on August 30, 2024, serve as inducements for employment and comply with Nasdaq Listing Rule 5635(c)(4).

The stock options have an exercise price of $8.69 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. These equity incentives are subject to BioCryst's Inducement Equity Incentive Plan and respective agreements.

Positive

• Attraction of new talent with equity incentives
• Alignment of employee interests with company performance through stock options and RSUs

Negative

• Potential dilution of existing shareholders' equity

RESEARCH TRIANGLE PARK, N.C., Sept. 04, 2024 (GLOBE NEWSWIRE) -- BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) today announced that the compensation committee of BioCryst’s board of directors granted nine newly-hired employees stock options to purchase an aggregate of 28,400 shares, and restricted stock units (RSUs) covering an aggregate of 20,025 shares, of BioCryst common stock. The options and RSUs were granted as of August 30, 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 $8.69 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

How many shares of BioCryst (BCRX) stock options were granted to new employees on August 30, 2024?

BioCryst granted stock options to purchase an aggregate of 28,400 shares to nine newly-hired employees on August 30, 2024.

What is the exercise price of the stock options granted by BioCryst (BCRX) on August 30, 2024?

The stock options granted by BioCryst on August 30, 2024, have an exercise price of $8.69 per share, equal to the closing price of BioCryst common stock on the grant date.

How do the restricted stock units (RSUs) granted by BioCryst (BCRX) vest?

The RSUs granted by BioCryst vest in four equal annual installments beginning on the one-year anniversary of the grant date, subject to the new employee's continued service with the company.

What is the term of the stock options granted by BioCryst (BCRX) on August 30, 2024?

The stock options granted by BioCryst on August 30, 2024, have a 10-year term.