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

Rhea-AI Summary

Bellicum Pharmaceuticals (NASDAQ: BLCM) announced equity inducement grants of 13,680 stock options to three new employees on August 31, 2020. The grants were approved by the Compensation Committee as part of Nasdaq Listing Rule 5635(c)(4). The stock options have an exercise price of $5.95 per share, vesting over four years, with 25% vesting on the first anniversary and monthly thereafter, contingent upon continued employment. The options fall under the company's 2019 Equity Incentive Plan.

Positive

• Inducement grants of stock options may attract skilled employees.
• Stock options have a favorable exercise price of $5.95, potentially aligning employee interests with shareholder value.

Negative

• None.

HOUSTON, Aug. 31, 2020 (GLOBE NEWSWIRE) -- Bellicum Pharmaceuticals, Inc. (NASDAQ:BLCM), a leader in developing novel, controllable cellular immunotherapies for cancers, today announced equity inducement grants to three new employees consisting of an aggregate of 13,680 stock options. The Compensation Committee of the Board of Directors approved the grants with an effective date of August 31, 2020. The stock options were granted as inducements material to the employees entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).

The stock options have an exercise price of $5.95 per share and vest over four years, with 25% of the shares vesting on the one-year anniversary of the applicable vesting commencement date and 1/48 of the shares vesting monthly thereafter, subject to the new employee's continued service relationship with the Company.  The stock options are subject to the terms and conditions of the Company's 2019 Equity Incentive Plan and a stock option agreement covering the grant.

About Bellicum Pharmaceuticals

Bellicum is a clinical stage biopharmaceutical company striving to deliver cures through controllable cell therapies. The company’s next-generation product candidates are differentiated by powerful cell signaling technologies designed to produce more effective CAR-T and CAR-NK cell therapies. Bellicum’s GoCAR-T^® product candidates, BPX-601 and BPX-603, are designed to be more efficacious CAR-T cell products capable of overriding key immune inhibitory mechanisms. More information about Bellicum can be found at www.bellicum.com.​ 

Source: Bellicum Pharmaceuticals

Investors:
Robert H. Uhl
Managing Director
Westwicke ICR
858-356-5932
Robert.uhl@westwicke.com

FAQ

What is the significance of Bellicum Pharmaceuticals' stock option grants on August 31, 2020?

The stock option grants aim to incentivize new employees, aligning their interests with the company's performance.

How many stock options did Bellicum Pharmaceuticals grant to new employees?

Bellicum granted a total of 13,680 stock options to three new employees.

What is the exercise price of the stock options granted by Bellicum Pharmaceuticals?

The exercise price for the stock options is $5.95 per share.

What is the vesting schedule for the stock options granted by Bellicum Pharmaceuticals?

The stock options vest over four years, with 25% vesting at the one-year mark and the remainder vesting monthly.