GBT Announces New Employment Inducement Grants

Rhea-AI Summary

Global Blood Therapeutics (GBT) announced the grant of 64,050 restricted stock units to 21 new employees on April 1, 2022. This award is part of the Amended and Restated 2017 Inducement Equity Plan and serves as an inducement for employees joining the company, aligning with NASDAQ Listing Rule 5635(c)(4). GBT is committed to advancing treatments for sickle cell disease (SCD) and has introduced Oxbryta, the first FDA-approved treatment targeting hemoglobin polymerization in SCD. The company is also progressing with additional programs in SCD, including inclacumab and GBT021601.

Positive

• Granting of 64,050 restricted stock units can attract talent, potentially enhancing workforce productivity.
• GBT's commitment to developing treatments for SCD positions the company as a leader in a niche market.

Negative

• None.

SOUTH SAN FRANCISCO, Calif., April 07, 2022 (GLOBE NEWSWIRE) -- Global Blood Therapeutics, Inc. (GBT) (NASDAQ: GBT) today announced that on April 1, 2022, the compensation committee of GBT’s board of directors granted 21 new employees restricted stock units for an aggregate of 64,050 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 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 generation 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 recent stock awards were announced by Global Blood Therapeutics (GBT)?

GBT announced on April 1, 2022, the grant of 64,050 restricted stock units to 21 new employees.

What is the purpose of the stock units granted by GBT?

The stock units were granted as an inducement for new employees to join the company.

Under which plan were the stock units granted to GBT employees?

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

What are the key treatments Global Blood Therapeutics is developing for sickle cell disease?

GBT is developing Oxbryta, inclacumab, and GBT021601 for the treatment of sickle cell disease.