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

Rhea-AI Summary

Geron Corporation (NASDAQ: GERN) announced the grant of non-statutory stock options totaling 435,800 shares to new employees as an inducement for employment. These options were issued on January 19, 2022, with an exercise price of $1.10 per share, aligning with the stock's closing price. The options have a 10-year term and vest over four years, starting with 12.5% after six months and the remainder in equal installments. This action is in compliance with Nasdaq regulations and is part of Geron's 2018 Inducement Award Plan.

Geron is focusing on developing imetelstat, a telomerase inhibitor, for hematologic malignancies.

Positive

• Granting of 435,800 stock options may enhance employee retention and attract talent.
• Options align with current stock price of $1.10, providing potential value to employees.

Negative

• None.

FOSTER CITY, Calif.--(BUSINESS WIRE)-- Geron Corporation (Nasdaq: GERN) today reported that it has granted non-statutory stock options to purchase an aggregate of 435,800 shares of Geron common stock as inducements to newly hired employees in connection with commencement of employment with the Company.

The stock options were granted on January 19, 2022 at an exercise price of $1.10 per share, which is equal to the closing price of Geron common stock on the date of grant. The stock options have a 10-year term and vest over four years, with 12.5% of the shares underlying the options vesting on the six-month anniversary of commencement of employment for the respective employees 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 options were granted as material inducement to employment in accordance with Nasdaq Listing Rule 5635(c)(4) and are subject to the terms and conditions of the stock option agreements covering the grants 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/20220120005435/en/

Olivia Bloom

Chief Financial Officer

investor@geron.com

media@geron.com

Source: Geron Corporation

FAQ

What stock options did Geron grant recently?

Geron granted 435,800 non-statutory stock options to newly hired employees.

What is the exercise price for the stock options granted by Geron?

The exercise price for the stock options is $1.10 per share.

What is the vesting schedule for the stock options granted by Geron?

The options vest over four years, with 12.5% vesting after six months.

When were the stock options granted by Geron?

The stock options were granted on January 19, 2022.

What is Geron's main focus in its business operations?

Geron is focused on developing a telomerase inhibitor, imetelstat, for hematologic malignancies.