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 130,000 shares of its common stock to new employees, effective July 21, 2021. The exercise price is $1.33 per share, matching the closing price on the grant date. The options will vest over four years, with 12.5% vesting after six months and the remainder in equal monthly installments. This grant complies with Nasdaq Listing Rule 5635(c)(4) and follows the 2018 Inducement Award Plan. Geron focuses on developing imetelstat, a telomerase inhibitor, in hematologic diseases with ongoing Phase 3 trials.

Positive

• Granting stock options may attract talent and align employee interests with shareholders.
• The stock options have a long vesting period, promoting employee retention.

Negative

• None.

Geron Corporation (Nasdaq: GERN) today reported that it has granted non-statutory stock options to purchase an aggregate of 130,000 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 July 21, 2021 at an exercise price of $1.33 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 were granted by Geron Corporation?

Geron granted non-statutory stock options for 130,000 shares to new employees, with an exercise price of $1.33 per share.

When were the stock options for GERN granted?

The stock options were granted on July 21, 2021.

What is the vesting schedule for the stock options at Geron Corporation?

The options vest over four years, with 12.5% vesting after six months and the remainder vesting in equal installments over the next 42 months.