GBT Announces New Employment Inducement Grants

Rhea-AI Summary

Global Blood Therapeutics (GBT) announced on February 1, 2022, the granting of stock options and restricted stock units to 21 new employees. The total grants include options for 33,290 shares at an exercise price of $29.33 and restricted units for 80,100 shares, all awarded under the Amended and Restated 2017 Inducement Equity Plan. This decision aligns with NASDAQ Listing Rule 5635(c)(4), aiming to incentivize new hires as part of the company's strategy in developing treatments for sickle cell disease.

Positive

• The company is actively expanding its workforce, indicating growth potential.
• Stock options and units can enhance employee retention and motivation.

Negative

• None.

SOUTH SAN FRANCISCO, Calif., Feb. 03, 2022 (GLOBE NEWSWIRE) -- Global Blood Therapeutics, Inc. (GBT) (NASDAQ: GBT) today announced that on February 1, 2022, the compensation committee of GBT’s board of directors granted 21 new employees options to purchase an aggregate of 33,290 shares of the company’s common stock with a per share exercise price of $29.33 and restricted stock units for an aggregate of 80,100 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 did Global Blood Therapeutics announce on February 1, 2022?

GBT announced the granting of stock options and restricted stock units to 21 new employees.

How many shares were granted to new employees by GBT?

GBT granted options for 33,290 shares and restricted stock units for 80,100 shares.

What is the exercise price for the stock options granted by GBT?

The exercise price for the stock options is $29.33.

Under which plan were the stock options granted?

The stock options were granted under GBT's Amended and Restated 2017 Inducement Equity Plan.