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

Rhea-AI Summary

Geron (Nasdaq: GERN), a commercial stage biopharmaceutical company, has granted non-statutory stock options to newly hired employees as inducements for joining the company. The details are as follows:

• 500,220 shares of Geron common stock options granted
• Grant date: September 18, 2024
• Exercise price: $4.52 per share (equal to closing price on grant date)
• 10-year term
• Vesting schedule: 12.5% after six months, remaining over 42 months in equal installments

These grants were made in accordance with Nasdaq Listing Rule 5635(c)(4) and are subject to Geron's 2018 Inducement Award Plan.

Positive

• Geron is actively hiring new employees, indicating potential company growth
• The stock options align employee interests with company performance

Negative

• The stock option grants may lead to potential dilution for existing shareholders

FOSTER CITY, Calif.--(BUSINESS WIRE)-- Geron Corporation (Nasdaq: GERN), a commercial stage biopharmaceutical company, today reported that it has granted non-statutory stock options to purchase an aggregate of 500,220 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 September 18, 2024, at an exercise price of $4.52 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. All of the stock options were granted as a 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 commercial-stage biopharmaceutical company aiming to change lives by changing the course of blood cancer. Our first-in-class telomerase inhibitor RYTELO™ (imetelstat) is approved in the United States for the treatment of certain adult patients with lower-risk myelodysplastic syndromes (LR-MDS) with transfusion dependent anemia. We are also conducting a pivotal Phase 3 clinical trial of imetelstat in JAK-inhibitor relapsed/refractory myelofibrosis (R/R MF), as well as studies in other myeloid hematologic malignancies. Inhibiting telomerase activity, which is increased in malignant stem and progenitor cells in the bone marrow, aims to reduce proliferation and induce death of malignant cells. To learn more, visit www.geron.com or follow us on LinkedIn.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240919041614/en/

Aron Feingold

Vice President, Investor Relations and Corporate Communications

Kristen Kelleher

Associate Director, Investor Relations and Corporate Communications

investor@geron.com

media@geron.com

Source: Geron Corporation

FAQ

How many shares of stock options did Geron (GERN) grant to new employees on September 18, 2024?

Geron (GERN) granted non-statutory stock options to purchase an aggregate of 500,220 shares of Geron common stock to newly hired employees on September 18, 2024.

What is the exercise price for the stock options granted by Geron (GERN) on September 18, 2024?

The exercise price for the stock options granted by Geron (GERN) on September 18, 2024, is $4.52 per share, which is equal to the closing price of Geron common stock on the date of grant.

What is the vesting schedule for the stock options granted by Geron (GERN) to new employees?

The stock options vest over four years, with 12.5% vesting after six months and the remaining shares vesting over the following 42 months in equal installments, subject to continued employment with Geron.

Under which Nasdaq rule did Geron (GERN) grant these stock options to new employees?

Geron (GERN) granted these stock options as a material inducement to employment in accordance with Nasdaq Listing Rule 5635(c)(4).