Deciphera Pharmaceuticals, Inc. Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Deciphera Pharmaceuticals (DCPH) announced the hiring of Lisa Amaya Price as Senior VP and Chief HR Officer. As part of her employment agreement, a stock option of 100,000 shares and 25,000 restricted stock units (RSUs) were granted. The options have a 10-year term at an exercise price of $16.64, the fair market value on the grant date of August 15, 2022. The options vest over four years, and the RSUs vest annually over three years. This grant was made under the Company’s 2022 Inducement Plan, following Nasdaq Listing Rule 5635(c)(4).

Positive

• Grant of stock options and RSUs to a key executive can align her interests with shareholders.
• Continuation of the company's strategy to attract top talent in the biopharmaceutical sector.

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 Lisa Amaya Price, Senior Vice President and Chief Human Resources 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 25,000 restricted stock units (“RSUs”) to Ms. Amaya Price with a grant date of August 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. Amaya Price accepting employment with the Company. The options have a ten-year term, and the exercise price of the options is $16.64, equal to the fair market value of the Company’s common stock on the Nasdaq on August 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. Amaya Price’s date of hire and the remainder vesting in equal monthly installments over three years thereafter. The 25,000 shares underlying the RSU grant will vest in equal annual installments over a three-year period, beginning 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).

View source version on businesswire.com: https://www.businesswire.com/news/home/20220819005366/en/

Investor Relations:

Maghan Meyers

Argot Partners

Deciphera@argotpartners.com

212-600-1902



Media:

David Rosen

Argot Partners

david.rosen@argotpartners.com

212-600-1902

Source: Deciphera Pharmaceuticals, Inc.

FAQ

What stock option was granted to Lisa Amaya Price at Deciphera Pharmaceuticals (DCPH)?

Lisa Amaya Price was granted a stock option to purchase 100,000 shares of DCPH.

What is the exercise price of the stock options granted on August 15, 2022?

The exercise price of the stock options is $16.64.

How long is the term for the stock options granted to Lisa Amaya Price?

The stock options have a 10-year term.

When will the stock options vest for Lisa Amaya Price?

The options will vest over a four-year period, with 25% vesting after one year.

What is the number of restricted stock units (RSUs) granted to Lisa Amaya Price?

Lisa Amaya Price was granted 25,000 restricted stock units (RSUs).