Chimerix Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Chimerix (CMRX) granted 150,000 non-qualified stock options to a new employee, with an exercise price of $1.00 per share. The stock option has a 10-year term, vesting over four years. Chimerix is a biopharmaceutical company focused on developing medicines, with its most advanced program, ONC201, in development for H3 K27M-mutant glioma.

DURHAM, N.C., Nov. 24, 2023 (GLOBE NEWSWIRE) -- Chimerix (NASDAQ:CMRX), today announced that on November 20, 2023, the Compensation Committee of Chimerix’s Board of Directors granted an inducement award to a new employee of non-qualified stock options to purchase 150,000 shares of Chimerix’s common stock. The Compensation Committee of Chimerix’s Board of Directors approved the award as an inducement material to the new employee’s employment agreement in accordance with Nasdaq Listing rule 5635(c)(4).

The stock option has an exercise price per share equal to $1.00 per share, Chimerix’s closing trading price on November 20, 2023. The stock option has a 10-year term and will vest over four years, with one-fourth vesting on the one-year anniversary of the grant date and the remaining three-fourths vesting over the following three years in equal monthly installments. The stock option is subject to the terms of Chimerix’s 2013 Equity Incentive Plan but was granted outside of the 2013 Equity Incentive Plan.

Chimerix is a biopharmaceutical company with a mission to develop medicines that meaningfully improve and extend the lives of patients facing deadly diseases. The Company’s most advanced clinical-stage development program, ONC201, is in development for H3 K27M-mutant glioma.

CONTACTS: 

Michelle LaSpaluto
919 972-7115
ir@chimerix.com

Will O’Connor
Stern Investor Relations
212-362-1200
will@sternir.com

FAQ

What did Chimerix (CMRX) announce recently?

Chimerix announced the granting of 150,000 non-qualified stock options to a new employee.

How many shares can the new employee purchase with the stock options?

The new employee can purchase 150,000 shares of Chimerix's common stock.

What is the exercise price per share for the stock options?

The exercise price per share for the stock options is $1.00.

What is the vesting period for the stock options?

The stock options will vest over four years, with one-fourth vesting on the one-year anniversary of the grant date and the remaining three-fourths vesting over the following three years in equal monthly installments.

What is Chimerix's (CMRX) most advanced clinical-stage development program?

Chimerix's most advanced clinical-stage development program is ONC201, which is in development for H3 K27M-mutant glioma.

What is Chimerix's (CMRX) mission?

Chimerix's mission is to develop medicines that improve and extend the lives of patients facing deadly diseases.