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

Rhea-AI Summary

BioCryst Pharmaceuticals (BCRX) announced that its compensation committee granted stock options and restricted stock units (RSUs) to 14 new employees as of October 31, 2022. The stock options total 125,700 shares with an exercise price of $13.35, equal to the grant date's closing stock price. The RSUs cover 46,350 shares and both vest over four years, contingent on continued employment. This action complies with Nasdaq Listing Rule 5635(c)(4) and aims to attract talent to support the company's growth in developing oral medicines for rare diseases.

Positive

• Attracting talent with stock options and RSUs may enhance company growth and innovation.
• Compliance with Nasdaq regulations demonstrates corporate governance adherence.

Negative

• None.

RESEARCH TRIANGLE PARK, N.C., Nov. 04, 2022 (GLOBE NEWSWIRE) -- BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) today announced that the compensation committee of BioCryst’s board of directors granted 14 newly-hired employees stock options to purchase an aggregate of 125,700 shares, and   restricted stock units (RSUs) covering an aggregate of 46,350 shares, of BioCryst common stock. The options and RSUs were granted as of October 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 $13.35 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 and many global markets. BioCryst has active programs to develop oral medicines for multiple targets across the complement system, including oral factor D inhibitors BCX9930 and BCX10013, which are in clinical development. RAPIVAB® (peramivir injection) is approved in the U.S. and multiple global markets, with post-marketing commitments 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 was announced by BioCryst Pharmaceuticals on November 4, 2022?

BioCryst announced the granting of stock options and RSUs to 14 newly hired employees, totaling 172,050 shares combined.

What is the exercise price of the stock options granted by BioCryst?

The exercise price of the stock options is $13.35 per share, equal to the closing price on the grant date.

What are the vesting terms for the stock options and RSUs granted by BioCryst?

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

How many shares were involved in the stock option and RSU grants by BioCryst?

The grants consisted of 125,700 stock options and 46,350 restricted stock units.

Why did BioCryst grant stock options and RSUs to new employees?

The grants were made as inducements material to each new employee's decision to join BioCryst.