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

Rhea-AI Summary

BioCryst Pharmaceuticals (Nasdaq: BCRX) announced the grant of stock options and restricted stock units (RSUs) to six new employees, totaling 124,300 shares in stock options and 40,350 shares in RSUs, effective March 31, 2023. The stock options, priced at $8.34 per share, align with BioCryst’s closing stock price on the grant date. Vesting occurs in four equal annual installments, contingent on continued employment, with a 10-year term for the options. This action complies with Nasdaq Listing Rule 5635(c)(4) and supports the company's strategy to attract talent in its mission to develop innovative treatments for rare diseases.

Positive

• Inducement stock options and RSUs granted to new employees could enhance talent acquisition.
• Stock options have a favorable exercise price matching the market rate, promoting alignment with stock performance.

Negative

• None.

RESEARCH TRIANGLE PARK, N.C., April 04, 2023 (GLOBE NEWSWIRE) -- BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) today announced that the compensation committee of BioCryst’s board of directors granted six newly-hired employees stock options to purchase an aggregate of 124,300 shares, and restricted stock units (RSUs) covering an aggregate of 40,350 shares, of BioCryst common stock. The options and RSUs were granted as of March 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 $8.34 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

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

FAQ

What is the stock symbol for BioCryst Pharmaceuticals?

The stock symbol for BioCryst Pharmaceuticals is BCRX.

What was the date of the stock options grant for BioCryst?

The stock options grant date for BioCryst was March 31, 2023.

How many shares were granted as stock options by BioCryst?

BioCryst granted 124,300 shares as stock options.

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

The exercise price of the stock options granted by BioCryst is $8.34 per share.

How do the stock options vest for new employees at BioCryst?

The stock options vest in four equal annual installments, starting from the one-year anniversary of the grant date.