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 320,000 shares of common stock to new employees as inducements for their commencement of employment. The options, set at an exercise price of $1.03 per share, have a 10-year term and will vest over four years. This grant adheres to Nasdaq Listing Rule 5635(c)(4) and is part of Geron's 2018 Inducement Award Plan. The company is currently engaged in two Phase 3 clinical trials for its telomerase inhibitor, imetelstat, targeting hematologic malignancies.

Positive

• Inducement of new talent through stock options enhances workforce stability and attracts skilled professionals.
• The stock options have a favorable exercise price of $1.03, enabling potential financial benefits for employees and aligning their interests with shareholders.

Negative

• The issuance of 320,000 stock options could lead to potential dilution of shares for existing shareholders.

FOSTER CITY, Calif.--(BUSINESS WIRE)-- Geron Corporation (Nasdaq: GERN) today reported that it has granted non-statutory stock options to purchase an aggregate of 320,000 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 March 16, 2022 at an exercise price of $1.03 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/20220317005355/en/

Olivia Bloom

Chief Financial Officer

investor@geron.com

media@geron.com

Source: Geron Corporation

FAQ

What stock options were granted by Geron Corporation on March 16, 2022?

Geron Corporation granted non-statutory stock options to purchase 320,000 shares of its common stock to newly hired employees.

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

The exercise price for the stock options is $1.03 per share, equal to the closing price on the date of the grant.

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

The stock options have a term of 10 years.

What is Geron Corporation's focus in its clinical trials?

Geron is focused on the development of a telomerase inhibitor, imetelstat, for hematologic malignancies, currently conducting two Phase 3 clinical trials.