GBT Announces New Employment Inducement Grants

Rhea-AI Summary

Global Blood Therapeutics (GBT) has announced the granting of stock options and restricted stock units to 20 new employees as part of its Amended and Restated 2017 Inducement Equity Plan. On October 1, 2020, the company issued options for 12,000 shares at an exercise price of $57.96 and 93,950 shares in restricted stock units. This move is intended to attract new talent in accordance with NASDAQ Listing Rule 5635(c)(4). GBT focuses on innovative treatments for sickle cell disease, including its FDA-approved drug Oxbryta (voxelotor).

Positive

• Stock options granted to 20 new employees, attracting talent.
• Total of 93,950 restricted stock units awarded.
• Investment in human capital to support growth in sickle cell disease treatments.

Negative

• None.

SOUTH SAN FRANCISCO, Calif., Oct. 05, 2020 (GLOBE NEWSWIRE) -- Global Blood Therapeutics, Inc. (GBT) (NASDAQ: GBT) today announced that on October 1, 2020, the compensation committee of GBT’s board of directors granted 20 new employees options to purchase an aggregate of 12,000 shares of the company’s common stock with a per share exercise price of $57.96 and restricted stock units for an aggregate of 93,950 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), 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. In addition, GBT’s drug discovery teams are working on new targets to develop the next generation of treatments for SCD. To learn more, please visit www.gbt.com and follow the company on Twitter @GBT_news.

Contact Information:
Steven Immergut (investors and media)
650-410-3258
simmergut@gbt.com

FAQ

What stock options did GBT grant on October 1, 2020?

GBT granted options to purchase 12,000 shares at an exercise price of $57.96.

How many restricted stock units were awarded by GBT?

GBT awarded a total of 93,950 restricted stock units.

What is the purpose of GBT's stock awards?

The stock awards are intended to incentivize 20 new employees as part of GBT's growth strategy.

What is the Amended and Restated 2017 Inducement Equity Plan?

It is a plan under which GBT grants stock options and restricted stock units to attract and retain employees.

How does GBT's compensation strategy support its goals?

By awarding stock options and restricted units, GBT aims to enhance its workforce to advance treatments for sickle cell disease.