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

Rhea-AI Summary

Bellicum Pharmaceuticals (NASDAQ:BLCM) announced on January 31, 2023, that it has granted 45,000 stock options to a new employee. The grants were approved by the Compensation Committee of the Board of Directors, effective the same date. The stock options have an exercise price of $1.14 per share and will vest over four years. This aligns with Nasdaq Listing Rule 5635(c)(4) regarding inducements for new employees. Bellicum focuses on developing innovative cellular immunotherapies for cancer treatment, emphasizing their GoCAR-T® products, BPX-601 and BPX-603, designed to enhance CAR-T cell therapy efficacy.

Positive

• Grant of 45,000 stock options to new employee could enhance talent acquisition.
• Stock options priced at $1.14 per share may attract and retain skilled personnel.

Negative

• None.

HOUSTON, Jan. 31, 2023 (GLOBE NEWSWIRE) -- Bellicum Pharmaceuticals, Inc. (NASDAQ:BLCM), a leader in developing novel, controllable cellular immunotherapies for cancers, today announced equity inducement grants to 1 new employee consisting of an aggregate of 45,000 stock options. The Compensation Committee of the Board of Directors approved the grants with an effective date of January 31, 2023. 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 $1.14 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 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 or follow us on Twitter or LinkedIn.

Source: Bellicum Pharmaceuticals

Investors:

Robert H. Uhl
Managing Director
Westwicke IR
858-356-5932
Robert.uhl@westwicke.com

FAQ

What were the recent stock option grants by Bellicum Pharmaceuticals?

Bellicum Pharmaceuticals granted 45,000 stock options to a new employee on January 31, 2023.

What is the exercise price for the stock options granted by BLCM?

The exercise price for the stock options granted by Bellicum Pharmaceuticals is $1.14 per share.

How long will the stock options granted to the new employee vest?

The stock options will vest over four years, with 25% vesting after one year and the remainder vesting monthly thereafter.

Which Nasdaq Listing Rule did Bellicum Pharmaceuticals follow for their stock option grants?

Bellicum Pharmaceuticals followed Nasdaq Listing Rule 5635(c)(4) for the stock option inducements.

What is the significance of stock options for Bellicum Pharmaceuticals?

Stock options are a tool for Bellicum to attract and retain talent, potentially aligning employee interests with company performance.