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

Rhea-AI Summary

Geron Corporation (Nasdaq: GERN) announced the grant of non-statutory stock options for 120,000 shares of common stock to newly hired employees as an employment inducement. The options were granted on January 20, 2021, with an exercise price of $1.74 per share, matching the closing stock price on the grant date. These options have a 10-year term and vest over four years. This action complies with Nasdaq Listing Rule 5635(c)(4) and aligns with Geron's 2018 Inducement Award Plan. Geron is focused on developing imetelstat, a telomerase inhibitor, in hematologic cancers.

Positive

• Granting stock options may attract skilled employees.
• The exercise price of $1.74 is aligned with current market valuation.

Negative

• None.

Geron Corporation (Nasdaq: GERN) today reported that it has granted non-statutory stock options to purchase an aggregate of 120,000 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 20, 2021 at an exercise price of $1.74 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 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 inducements 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 myeloid 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.

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FAQ

What stock options did Geron Corporation grant recently?

Geron granted non-statutory stock options for 120,000 shares as inducements for new employees.

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

The exercise price is $1.74 per share, equal to the closing price on the grant date.

How long is the term for the stock options granted by Geron?

The stock options have a 10-year term.

What is the purpose of the stock options granted by Geron?

The options are granted as material inducements for employment.

Under which plan were the stock options granted?

The options were granted under Geron's 2018 Inducement Award Plan.

What is Geron Corporation's primary focus?

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