GBT Announces New Employment Inducement Grants

Rhea-AI Summary

Global Blood Therapeutics (GBT) announced the granting of 12 new employees restricted stock units totaling 47,750 shares on April 1, 2021. These awards were given under the Amended and Restated 2017 Inducement Equity Plan as an inducement for their employment, complying with NASDAQ Listing Rule 5635(c)(4). GBT focuses on developing treatments for sickle cell disease, having introduced the first FDA-approved treatment Oxbryta and advancing other pipeline programs including inclacumab and GBT021601.

Positive

• Granting of stock units may enhance employee retention and motivation.
• The company is advancing multiple pipeline programs for sickle cell disease, indicating ongoing development and potential future revenue growth.

Negative

• None.

SOUTH SAN FRANCISCO, Calif., April 05, 2021 (GLOBE NEWSWIRE) -- Global Blood Therapeutics, Inc. (GBT) (NASDAQ: GBT) today announced that on April 1, 2021, the compensation committee of GBT’s board of directors granted 12 new employees restricted stock units for an aggregate of 47,750 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 employee benefits were announced by GBT on April 1, 2021?

GBT announced the granting of 12 new employees restricted stock units totaling 47,750 shares under its Amended and Restated 2017 Inducement Equity Plan.

What is the significance of the restricted stock units granted by GBT?

The restricted stock units are an inducement for new employees, aimed at improving retention and aligning employee interests with company performance.

What treatments is GBT developing for sickle cell disease?

GBT is developing Oxbryta, inclacumab, and GBT021601 as part of its pipeline to provide treatments for sickle cell disease.

Under what plan were the stock units granted to employees?

The stock units were granted under GBT’s Amended and Restated 2017 Inducement Equity Plan.