GBT Announces New Employment Inducement Grants

Rhea-AI Summary

Global Blood Therapeutics (GBT) announced on September 1, 2021, that it granted stock options and restricted stock units to 20 new employees. The aggregate award included options to purchase 49,600 shares at an exercise price of $29.85 and 79,910 shares in restricted stock units under the Amended and Restated 2017 Inducement Equity Plan. These awards were made in accordance with NASDAQ Listing Rule 5635(c)(4) to attract new talent into the company, emphasizing GBT's commitment to enriching its workforce and advancing treatments for sickle cell disease.

Positive

• Recruitment of 20 new employees enhances talent pool.
• Options and restricted stock units incentivize long-term commitment.
• Strategic growth plan under Amended and Restated 2017 Inducement Equity Plan.

Negative

• None.

SOUTH SAN FRANCISCO, Calif., Sept. 09, 2021 (GLOBE NEWSWIRE) -- Global Blood Therapeutics, Inc. (GBT) (NASDAQ: GBT) today announced that on September 1, 2021, the compensation committee of GBT’s board of directors granted 20 new employees options to purchase an aggregate of 49,600 shares of the company’s common stock with a per share exercise price of $29.85 and restricted stock units for an aggregate of 79,910 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 Phase 3 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 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 September 1, 2021?

GBT granted options to purchase 49,600 shares at an exercise price of $29.85.

How many shares in restricted stock units did GBT grant?

GBT granted 79,910 shares in restricted stock units to new employees.

Under which plan did GBT make the stock grants?

The stock grants were made under the Amended and Restated 2017 Inducement Equity Plan.

How does the stock grant affect GBT's workforce?

The grants are intended to attract and retain talent, supporting GBT's growth and objectives.

What rule did GBT follow for the stock options granted?

GBT followed NASDAQ Listing Rule 5635(c)(4) for the inducement grants.