GBT Announces New Employment Inducement Grants

Rhea-AI Summary

Global Blood Therapeutics (GBT) announced on June 1, 2022, that its compensation committee granted restricted stock units totaling 33,700 shares to 10 new employees. This action is part of GBT's Amended and Restated 2017 Inducement Equity Plan, designed to incentivize new hires. The company focuses on developing treatments for underserved communities, particularly for sickle cell disease (SCD), having introduced Oxbryta® (voxelotor) and advancing other pipeline programs.

Positive

• Granting 33,700 restricted stock units to new employees may enhance talent acquisition and retention.
• Commitment to developing treatments for sickle cell disease highlights GBT's strategic focus on underserved markets.

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• None.

SOUTH SAN FRANCISCO, Calif., June 02, 2022 (GLOBE NEWSWIRE) -- Global Blood Therapeutics, Inc. (GBT) (NASDAQ: GBT) today announced that on June 1, 2022, the compensation committee of GBT’s board of directors granted 10 new employees restricted stock units for an aggregate of 33,700 shares of the company’s common stock. These awards were made under GBT’s Amended and Restated 2017 Inducement Equity Plan (the Plan). 

The above-described awards were each granted as an inducement material to the employees entering into employment with the company in accordance with NASDAQ Listing Rule 5635(c)(4), and were granted pursuant to the terms of the Plan. The Plan was adopted by GBT’s board of directors in January 2017 and has been amended and restated from time to time.

About Global Blood Therapeutics
Global Blood Therapeutics (GBT) is a biopharmaceutical company dedicated to the discovery, development and delivery of life-changing treatments that provide hope to underserved patient communities, starting with sickle cell disease (SCD). Founded in 2011, GBT is delivering on its goal to transform the treatment and care of SCD, a lifelong, devastating inherited blood disorder. The company has introduced Oxbryta^® (voxelotor), the first FDA-approved medicine that directly inhibits sickle hemoglobin (HbS) polymerization, the root cause of red blood cell sickling in SCD. GBT is also advancing its pipeline program in SCD with inclacumab, a P-selectin inhibitor in Phase 3 development to address pain crises associated with the disease, and GBT021601 (GBT601), the company’s next generation HbS polymerization inhibitor. In addition, GBT’s drug discovery teams are working on new targets to develop the next generation of treatments for SCD. To learn more, please visit www.gbt.com and follow the company on Twitter @GBT_news.

Contact:
Steven Immergut (media)
650-410-3258
simmergut@gbt.com

Courtney Roberts (investors)
650-351-7881
croberts@gbt.com

FAQ

What was announced by Global Blood Therapeutics on June 1, 2022?

GBT announced the grant of 33,700 restricted stock units to 10 new employees as part of its employee incentive plan.

How many shares were granted to new employees at GBT?

GBT granted a total of 33,700 shares in restricted stock units to 10 new employees.

What plan was used for the stock grants at GBT?

The stock grants were made under GBT's Amended and Restated 2017 Inducement Equity Plan.

What is the focus of Global Blood Therapeutics?

GBT focuses on developing treatments for sickle cell disease and other underserved patient communities.

What is Oxbryta?

Oxbryta (voxelotor) is the first FDA-approved medicine developed by GBT that inhibits sickle hemoglobin polymerization.