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

Rhea-AI Summary

Bellicum Pharmaceuticals (NASDAQ:BLCM) announced on July 31, 2020, the grant of 3,520 stock options to two new employees as part of their inducement to join the company. The exercise price for these options is set at $6.71 per share, and they will vest over four years, with a quarter vesting after one year and the remainder monthly thereafter. This action conforms with Nasdaq Listing Rule 5635(c)(4) and is part of the company’s 2019 Equity Incentive Plan. Bellicum specializes in developing controllable cellular immunotherapies for cancer treatment.

Positive

• Grant of 3,520 stock options indicates company growth and new talent acquisition.
• Stock options vesting over four years can enhance employee retention.

Negative

• None.

HOUSTON, July 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 two new employees consisting of an aggregate of 3,520 stock options. The Compensation Committee of the Board of Directors approved the grants with an effective date of July 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 $6.71 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 the stock options granted by Bellicum Pharmaceuticals?

The stock options are a strategic move to attract and retain talent, aligning employee interests with company performance.

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

The exercise price for the stock options is set at $6.71 per share.

When do the stock options for Bellicum Pharmaceuticals vest?

The stock options will vest over four years, with 25% vesting on the one-year anniversary and the rest vesting monthly thereafter.

Which Nasdaq rule did Bellicum Pharmaceuticals comply with for the stock option grants?

Bellicum Pharmaceuticals complied with Nasdaq Listing Rule 5635(c)(4) for the inducement grants.