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

Rhea-AI Summary

Geron Corporation (NASDAQ: GERN) announced the granting of non-statutory stock options for 365,800 shares to new employees as part of their employment inducement. The options were granted on August 17, 2022, at an exercise price of $2.15 per share, equivalent to the closing stock price on that date. These options have a 10-year term and vest over four years, rewarding continued employment. This grant follows Nasdaq Listing Rule 5635(c)(4) and is part of Geron's 2018 Inducement Award Plan.

Positive

• Grant of 365,800 stock options to entice new talent.
• Options have a competitive exercise price of $2.15, aligning with current stock value.
• Long-term vesting schedule encourages employee retention.

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 365,800 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 August 17, 2022 at an exercise price of $2.15 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220818005565/en/

Aron Feingold

Investor and Media Relations

investor@geron.com

media@geron.com

Source: Geron Corporation

FAQ

What stock options has Geron Corporation granted?

Geron Corporation granted non-statutory stock options to purchase 365,800 shares.

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

The exercise price for the stock options is $2.15 per share.

When were the stock options granted by Geron Corporation?

The stock options were granted on August 17, 2022.

What is the vesting period for Geron's stock options?

The options vest over four years, with an initial 12.5% vesting at six months.

Under what plan were the stock options granted?

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