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

Rhea-AI Summary

Bellicum Pharmaceuticals (NASDAQ:BLCM) corrected a previous press release regarding stock options. The company granted 20,000 stock options, not the initially reported 45,000, to one new employee. This grant was approved by the Compensation Committee on January 31, 2023, and has an exercise price of $1.14 per share. The options vest over four years, with 25% vesting at the one-year mark and the remainder vesting monthly thereafter, contingent on the employee's continued service. The grants comply with Nasdaq Listing Rule 5635(c)(4) and are issued under the 2019 Equity Incentive Plan.

Positive

• Equity inducement grants to new employee indicate growth and recruitment efforts.
• Stock options granted at an exercise price of $1.14 per share may incentivize long-term performance.

Negative

• None.

HOUSTON, Jan. 31, 2023 (GLOBE NEWSWIRE) -- In a release issued earlier today by Bellicum Pharmaceuticals, Inc. (NASDAQ:BLCM), please note that the total number of stock options should be 20,000, not 45,000, as previously stated. The corrected release follows:

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 20,000 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 is the recent stock option grant by Bellicum Pharmaceuticals (BLCM)?

Bellicum Pharmaceuticals granted 20,000 stock options to a new employee on January 31, 2023.

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

The exercise price of the stock options is $1.14 per share.

How long is the vesting period for the stock options at BLCM?

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

What did Bellicum Pharmaceuticals correct in its press release?

Bellicum corrected the number of stock options granted, reducing it from 45,000 to 20,000.

Why were the stock options granted to the new employee at BLCM?

The stock options were granted as inducements material to the employee entering into employment with the company.