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

Rhea-AI Summary

Geron (GERN) has granted equity awards totaling 312,000 shares to three new employees as employment inducements. The awards, granted on January 17, 2025, consist of:

- Stock options to purchase 208,000 shares at $2.89 per share (closing price on grant date)
- Restricted stock units (RSUs) representing 104,000 shares

The stock options have a 10-year term with a vesting schedule of 12.5% after six months and the remaining shares vesting over 42 months. RSUs vest 25% annually over four years. These awards were granted under Geron's 2018 Inducement Award Plan, complying with Nasdaq Listing Rule 5635(c)(4).

FOSTER CITY, Calif.--(BUSINESS WIRE)-- Geron Corporation (Nasdaq: GERN), a commercial stage biopharmaceutical company, today reported that it has granted equity awards covering an aggregate of 312,000 shares of its common stock, consisting of stock options to purchase an aggregate of 208,000 shares of common stock and restricted stock units (“RSUs”) representing an aggregate of 104,000 shares of common stock, to three newly hired employees as an inducement material to their acceptance of employment with the Company.

The stock options and RSUs were granted on January 17, 2025. The stock options have an exercise price of $2.89 per share, which is equal to the closing price of Geron common stock on the grant date, 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 of each employee 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 RSUs vest as to 25% of the award on each anniversary of the grant date, subject to continued employment with Geron through the applicable vesting dates. All of the equity awards were granted by the Compensation Committee of Geron’s Board of Directors in accordance with Nasdaq Listing Rule 5635(c)(4) and are subject to the terms and conditions of Geron’s 2018 Inducement Award Plan and the forms of stock option and RSU agreements under the plan.

About Geron

Geron is a commercial-stage biopharmaceutical company aiming to change lives by changing the course of blood cancer. Our first-in-class telomerase inhibitor RYTELO™ (imetelstat) is approved in the United States for the treatment of certain adult patients with lower-risk myelodysplastic syndromes (LR-MDS) with transfusion dependent anemia. We are also conducting a pivotal Phase 3 clinical trial of imetelstat in JAK-inhibitor relapsed/refractory myelofibrosis (R/R MF), as well as studies in other myeloid hematologic malignancies. Inhibiting telomerase activity, which is increased in malignant stem and progenitor cells in the bone marrow, aims to reduce proliferation and induce death of malignant cells. To learn more, visit www.geron.com or follow us on LinkedIn.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250121268874/en/

Aron Feingold

Vice President, Investor Relations and Corporate Communications

Kristen Kelleher

Associate Director, Investor Relations and Corporate Communications

investor@geron.com

media@geron.com

Source: Geron Corporation

FAQ

What equity awards did Geron (GERN) grant to new employees in January 2025?

Geron granted 312,000 shares in equity awards, consisting of 208,000 stock options at $2.89 per share and 104,000 RSUs to three new employees on January 17, 2025.

What is the vesting schedule for GERN's January 2025 stock option grants?

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

How do the RSUs vest in Geron's January 2025 equity awards?

The RSUs vest at a rate of 25% of the award on each anniversary of the grant date over four years.

What was the exercise price for GERN's January 2025 stock option grants?

The stock options were granted with an exercise price of $2.89 per share, equal to Geron's closing stock price on January 17, 2025.