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

Rhea-AI Summary

BioCryst Pharmaceuticals (BCRX) has granted stock options and restricted stock units (RSUs) to 20 newly-hired employees as part of their incentive compensation plan. A total of 287,200 stock options and 101,700 RSUs will vest annually over four years, with a set exercise price of $10.55 per share, equating to the stock's closing price on the grant date of January 31, 2023. These grants comply with Nasdaq regulations. BioCryst focuses on developing novel medications for rare diseases, including ORLADEYO and RAPIVAB, both approved in various markets. For further details, visit their website.

Positive

• Granting of stock options and RSUs can enhance employee retention and motivation.
• The incentive aligns newly-hired employees' interests with shareholder value through equity participation.

Negative

• None.

RESEARCH TRIANGLE PARK, N.C., Feb. 06, 2023 (GLOBE NEWSWIRE) -- BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) today announced that the compensation committee of BioCryst’s board of directors granted 20 newly-hired employees stock options to purchase an aggregate of 287,200 shares, and restricted stock units (RSUs) covering an aggregate of 101,700 shares, of BioCryst common stock. The options and RSUs were granted as of January 31, 2023, 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 $10.55 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 BCX10013, an oral Factor D inhibitor 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 recent stock option grants occurred for BioCryst Pharmaceuticals (BCRX)?

BioCryst granted stock options and RSUs to 20 new employees, totaling 287,200 stock options and 101,700 RSUs.

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

The exercise price of the stock options is $10.55 per share, matching the stock's closing price on the grant date.

When were the stock options and RSUs granted to BioCryst employees?

The stock options and RSUs were granted as of January 31, 2023.

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

The options and RSUs vest in four equal annual installments, starting on the first anniversary of the grant date.

What is the significance of the stock option grants for BioCryst Pharmaceuticals (BCRX)?

These grants serve as inducements essential for attracting talent and aligning employee performance with shareholder interests.