Geron Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Geron Corporation (Nasdaq: GERN) announced the granting of a non-statutory stock option for 80,000 shares as an inducement for a new employee starting on November 17, 2021. The exercise price is $1.42 per share, matching the stock's closing price on the grant date. The option has a 10-year term, with a vesting schedule over four years, starting with 12.5% after six months, then monthly installments. This grant complies with Nasdaq Listing Rule 5635(c)(4) and is part of Geron's 2018 Inducement Award Plan.

Positive

• Stock option grant may attract talent, potentially enhancing company performance.

Negative

• None.

FOSTER CITY, Calif.--(BUSINESS WIRE)-- Geron Corporation (Nasdaq: GERN) today reported that it has granted a non-statutory stock option to purchase an aggregate of 80,000 shares of Geron common stock as an inducement to a newly hired employee in connection with commencement of employment with the Company.

The stock option was granted on November 17, 2021 at an exercise price of $1.42 per share, which is equal to the closing price of Geron common stock on the date of grant. The stock option has a 10-year term and vests over four years, with 12.5% of the shares underlying the option vesting on the six-month anniversary of commencement of employment and the remaining shares vesting over the following 42 months in equal installments of whole shares, subject to continued employment with Geron through the applicable vesting dates. The option was granted as material inducement to employment in accordance with Nasdaq Listing Rule 5635(c)(4) and is subject to the terms and conditions of the stock option agreement covering the grant and Geron’s 2018 Inducement Award Plan, which was adopted December 14, 2018 and provides for the granting of stock options to new employees.

About Geron

Geron is a late-stage clinical biopharmaceutical company focused on the development and potential commercialization of a first-in-class telomerase inhibitor, imetelstat, in hematologic malignancies. The Company currently is conducting two Phase 3 clinical trials: IMerge in lower risk myelodysplastic syndromes and IMpactMF in refractory myelofibrosis. For more information about Geron, visit www.geron.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211118006116/en/

Olivia Bloom

Chief Financial Officer

investor@geron.com

media@geron.com

Source: Geron Corporation

FAQ

What stock option was granted by Geron Corporation?

Geron granted a stock option to purchase 80,000 shares at $1.42 each.

When was the stock option grant effective for Geron Corporation?

The stock option grant became effective on November 17, 2021.

What is the vesting schedule for Geron's stock option?

The option vests over four years, with 12.5% after six months and monthly installments thereafter.

Under what rule was Geron's stock option granted?

The stock option was granted in accordance with Nasdaq Listing Rule 5635(c)(4).

What is the purpose of the stock option grant at Geron Corporation?

The grant serves as inducement for a newly hired employee.