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Geron Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Geron Corporation (Nasdaq: GERN) announced the grant of a non-statutory stock option for 50,000 shares of common stock to a newly hired employee, effective December 15, 2021. The option has an exercise price of $1.37 per share, matching the stock's closing price on that date. It carries a 10-year term and vests over four years, with 12.5% vesting after six months and the remainder in equal installments over the next 42 months, subject to continued employment. This grant adheres to Nasdaq Listing Rule 5635(c)(4) and is part of Geron's 2018 Inducement Award Plan.
Positive
Geron granted stock options to a new employee, which may attract talent and boost company operations.
The stock option aligns with current market value, potentially motivating the employee.
Long-term vesting period indicates commitment to employee retention.
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 50,000 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 December 15, 2021 at an exercise price of $1.37 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.
