GBT Announces New Employment Inducement Grants

Rhea-AI Summary

Global Blood Therapeutics (GBT) recently announced the granting of 26,450 shares of restricted stock units to 14 new employees as of May 1, 2021. These awards were made under GBT’s Amended and Restated 2017 Inducement Equity Plan, in compliance with NASDAQ Listing Rule 5635(c)(4). The Plan aims to incentivize new hires, supporting GBT's mission to transform treatments for sickle cell disease (SCD). This initiative underscores the company’s commitment to employee growth and innovation in biopharmaceuticals.

Positive

• Awarding of 26,450 shares to new employees enhances talent acquisition.
• Supports GBT's commitment to employee incentives and growth.

Negative

• None.

SOUTH SAN FRANCISCO, Calif., May 07, 2021 (GLOBE NEWSWIRE) -- Global Blood Therapeutics, Inc. (GBT) (NASDAQ: GBT) today announced that on May 1, 2021, the compensation committee of GBT’s board of directors granted 14 new employees restricted stock units for an aggregate of 26,450 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. Founded in 2011, GBT is delivering on its goal to transform the treatment and care of sickle cell disease (SCD), a lifelong, devastating inherited blood disorder. The company has introduced Oxbryta^® (voxelotor) tablets, the first FDA-approved treatment that directly inhibits sickle hemoglobin 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 development to address pain crises associated with the disease, and GBT021601 (GBT601), the company’s next generation hemoglobin S polymerization inhibitor. In addition, GBT’s drug discovery teams are working on new targets to develop the next wave 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 GBT on May 1, 2021?

GBT granted 26,450 restricted stock units to 14 new employees.

What is the purpose of GBT's Amended and Restated 2017 Inducement Equity Plan?

The Plan is designed to incentivize new hires at GBT.

What does NASDAQ Listing Rule 5635(c)(4) pertain to?

It relates to the granting of inducement awards to employees.

What condition led to the stock awards for new employees at GBT?

The stock awards were granted as inducements for entering employment.