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Deciphera Pharmaceuticals, Inc. Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
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Rhea-AI Summary
Deciphera Pharmaceuticals (NASDAQ: DCPH) announced the hiring of Kelley Dealhoy as Senior Vice President and Chief Business Officer. In connection with her employment, the Board's Compensation Committee approved stock options for 100,000 shares and 45,000 restricted stock units (RSUs) under the 2022 Inducement Plan. The options have a ten-year term with an exercise price of $13.01, vesting over four years. Deciphera specializes in cancer treatments and has developed QINLOCK®, approved in multiple countries for fourth-line GIST treatment.
Positive
Kelley Dealhoy's hire may strengthen Deciphera's business strategy.
Approval of stock options and RSUs can align employee interests with shareholder value.
Negative
None.
WALTHAM, Mass.--(BUSINESS WIRE)--
Deciphera Pharmaceuticals, Inc. (NASDAQ: DCPH), a biopharmaceutical company focused on discovering, developing, and commercializing important new medicines to improve the lives of people with cancer, today announced that in connection with the hiring of Kelley Dealhoy, Senior Vice President and Chief Business Officer, the Compensation Committee of Deciphera’s Board of Directors approved the grant of a stock option to purchase 100,000 shares of Deciphera’s common stock and 45,000 restricted stock units (“RSUs”) to Ms. Dealhoy with a grant date of July 15, 2022.
The equity awards were granted under the Company’s 2022 Inducement Plan and were made pursuant to Nasdaq Listing Rule 5635(c)(4). The grants were an inducement material to Ms. Dealhoy accepting employment with the Company. The options have a ten-year term, and the exercise price of the options is $13.01, equal to the fair market value of the Company’s common stock on the Nasdaq on July 15, 2022. The shares subject to the option vest over a four-year period, with 25 percent of the shares subject to the option vesting on the first anniversary of Ms. Dealhoy’s date of hire and the remainder vesting in equal monthly installments over three years thereafter. One-third of the shares underlying 25,000 of the RSUs will vest annually over a three-year period beginning on or about the one-year anniversary of the grant date. A grant of 20,000 RSUs will vest in full on or about the one-year anniversary of the grant date. The awards are subject to the terms and conditions of their applicable equity award agreements, including having a continued relationship with the Company on the vesting date.
About Deciphera Pharmaceuticals
Deciphera is a biopharmaceutical company focused on discovering, developing, and commercializing important new medicines to improve the lives of people with cancer. We are leveraging our proprietary switch-control kinase inhibitor platform and deep expertise in kinase biology to develop a broad portfolio of innovative medicines. In addition to advancing multiple product candidates from our platform in clinical studies, QINLOCK® is Deciphera’s switch control inhibitor for the treatment of fourth-line GIST. QINLOCK® is approved in Australia, Canada, China, the European Union, Hong Kong, Switzerland, Taiwan, the United Kingdom, and the United States. For more information, visit www.deciphera.com and follow us on LinkedIn and Twitter (@Deciphera).
