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 505,800 shares of common stock to newly hired employees as an inducement for employment. The options, granted on April 20, 2022, have an exercise price of $1.47, matching the stock's closing price on that date. They have a 10-year term and will vest over four years, beginning with a 12.5% vesting at six months. Geron is focused on developing imetelstat, a telomerase inhibitor, currently in two Phase 3 clinical trials for hematologic malignancies.

Positive

• The grant of stock options may attract talent to the company, fostering growth.
• Imetelstat's ongoing Phase 3 trials position Geron for potential future success in hematologic malignancies.

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 505,800 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 April 20, 2022 at an exercise price of $1.47 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/20220421005329/en/

Aron Feingold

Investor and Media Relations

investor@geron.com

media@geron.com

Source: Geron Corporation

FAQ

What stock options did Geron Corporation grant to employees?

Geron Corporation granted non-statutory stock options for an aggregate of 505,800 shares of common stock to newly hired employees.

When were the stock options granted by Geron Corporation?

The stock options were granted on April 20, 2022.

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

The exercise price of the stock options is $1.47 per share.

What is the duration and vesting schedule for the stock options?

The stock options have a 10-year term and vest over four years, with 12.5% vesting after six months.

What is the focus of Geron Corporation?

Geron Corporation is focused on developing imetelstat, a telomerase inhibitor, for hematologic malignancies.