GBT Announces New Employment Inducement Grants

Rhea-AI Summary

Global Blood Therapeutics (GBT) announced on March 1, 2021, the granting of stock options and restricted stock units to 14 new employees under its Amended and Restated 2017 Inducement Equity Plan. Options to purchase 11,525 shares at an exercise price of $44.48 and 43,800 shares in restricted stock units were awarded. This inducement aligns with NASDAQ Listing Rule 5635(c)(4) and aims to attract talent to the biopharmaceutical company focused on developing treatments for sickle cell disease. GBT continues its commitment to improving care for underserved patient communities.

Positive

• Granting stock options and restricted stock units reflects a strategy to attract new talent.
• The compensation aligns with NASDAQ rules, ensuring compliance and governance.

Negative

• None.

SOUTH SAN FRANCISCO, Calif., March 08, 2021 (GLOBE NEWSWIRE) -- Global Blood Therapeutics, Inc. (GBT) (NASDAQ: GBT) today announced that on March 1, 2021, the compensation committee of GBT’s board of directors granted 14 new employees options to purchase an aggregate of 11,525 shares of the company’s common stock with a per share exercise price of $44.48 and restricted stock units for an aggregate of 43,800 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, 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 stock options did Global Blood Therapeutics grant on March 1, 2021?

GBT granted options to purchase 11,525 shares at a per share exercise price of $44.48.

How many restricted stock units were awarded to new employees at GBT?

GBT awarded restricted stock units for an aggregate of 43,800 shares.

What is the purpose of the stock options and restricted stock units at GBT?

The awards are designed to induce new employees to join the company, promoting talent acquisition.

Under which plan were GBT's employee stock options awarded?

The awards were made under GBT’s Amended and Restated 2017 Inducement Equity Plan.

What is the significance of NASDAQ Listing Rule 5635(c)(4) for GBT?

The rule allows GBT to grant stock options as an inducement for new hires while ensuring compliance.