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

Rhea-AI Summary

Geron Corporation (Nasdaq: GERN) has granted non-statutory stock options for 550,000 shares of its common stock to new employees as an inducement in their employment. The options were issued on August 18, 2021, at an exercise price of $1.25 per share, matching the stock's closing price on that date. The options vest over four years, with an initial vesting of 12.5% after six months. Geron is focused on developing the telomerase inhibitor, imetelstat, and is conducting two Phase 3 clinical trials in related hematologic cancers.

Positive

• Granting of 550,000 stock options may help attract and retain talent.
• Stock options set at $1.25, aligning with current market value.

Negative

• None.

Geron Corporation (Nasdaq: GERN) today reported that it has granted non-statutory stock options to purchase an aggregate of 550,000 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 August 18, 2021 at an exercise price of $1.25 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 recent stock options were granted by Geron Corporation?

Geron granted non-statutory stock options for an aggregate of 550,000 shares to new employees.

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

The exercise price of the stock options is $1.25 per share.

When were the stock options granted by Geron?

The stock options were granted on August 18, 2021.

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

The stock options have a 10-year term.

What clinical trials is Geron currently conducting?

Geron is conducting two Phase 3 trials: IMerge in lower-risk myelodysplastic syndromes and IMpactMF in refractory myelofibrosis.