GBT Announces New Employment Inducement Grants

Rhea-AI Summary

Global Blood Therapeutics (GBT) announced the grant of stock options and restricted stock units to 10 new employees on January 1, 2022. The awards include options for 15,225 shares at an exercise price of $29.27 and 41,830 shares in restricted stock units, under GBT's Amended and Restated 2017 Inducement Equity Plan. These grants comply with NASDAQ Listing Rule 5635(c)(4) as inducements for employment.

GBT is focused on transforming treatments for sickle cell disease (SCD), with products like Oxbryta and ongoing development programs.

Positive

• Granting of stock options and restricted stock units may attract talent and enhance retention.
• Current pipeline programs like inclacumab and GBT021601 indicate ongoing commitment to treating SCD, potentially leading to future growth.

Negative

• None.

SOUTH SAN FRANCISCO, Calif., Jan. 06, 2022 (GLOBE NEWSWIRE) -- Global Blood Therapeutics, Inc. (GBT) (NASDAQ: GBT) today announced that on January 1, 2022, the compensation committee of GBT’s board of directors granted 10 new employees options to purchase an aggregate of 15,225 shares of the company’s common stock with a per share exercise price of $29.27 and restricted stock units for an aggregate of 41,830 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 and tablets for oral suspension, 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 wave of potential 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 stock options were granted by GBT on January 1, 2022?

GBT granted options to purchase 15,225 shares at an exercise price of $29.27.

How many shares were granted as restricted stock units by GBT?

GBT granted an aggregate of 41,830 shares as restricted stock units.

What is the purpose of the stock awards from GBT?

The stock awards serve as inducements for the new employees to join GBT, complying with NASDAQ rules.

What is the focus of Global Blood Therapeutics?

GBT focuses on developing treatments for sickle cell disease (SCD) and has FDA-approved products.