An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
GlycoMimetics Reports Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
GlycoMimetics, Inc. (NASDAQ:GLYC) announced the grant of a non-qualified stock option to new Vice President, Commercial Operations, Debora Peralta, on January 31, 2023. The award totals 100,000 shares of common stock, with an exercise price of $2.91 per share. Vesting occurs as 25% on January 31, 2024, followed by monthly installments over 36 months. This grant adheres to NASDAQ Listing Rule 5635(c)(4) and is considered an inducement for Peralta's employment. GlycoMimetics focuses on developing glycobiology-based therapies for cancers and inflammatory diseases with high unmet needs.
Positive
The grant of 100,000 stock options to a new executive aligns incentives with company performance.
Hiring a new Vice President in Commercial Operations may enhance the company's strategic direction.
Negative
None.
ROCKVILLE, Md.--(BUSINESS WIRE)--
GlycoMimetics, Inc. (the “Company”) (NASDAQ:GLYC) today announced that the Compensation Committee of the Company’s Board of Directors approved the grant on January 31 , 2023 of a non-qualified stock option award to purchase an aggregate of 100,000 shares to Debora Peralta, the Company’s new Vice President, Commercial Operations. The award was granted as an inducement equity award outside of the Company’s Amended and Restated 2013 Equity Incentive Plan in accordance with NASDAQ Listing Rule 5635(c)(4) and was made as an inducement material to the acceptance of employment with the Company by the new employee.
The award was comprised of an option to purchase 100,000 shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”), subject to vesting as to 25% of the underlying shares on January 31, 2024, and as to the remaining underlying shares in equal monthly installments over 36 months thereafter. The option grant has an exercise price of $2.91 per share, the closing price of the Common Stock on the date of grant, and is subject to the terms and conditions of a stock option agreement and the GlycoMimetics, Inc. Inducement Plan (adopted January 22, 2020 and amended on August 2, 2021 and January 21, 2022), which provides for the granting of stock options and other equity awards to new employees.
About GlycoMimetics, Inc.
GlycoMimetics is a late clinical-stage biotechnology company discovering and developing glycobiology-based therapies for cancers, including AML, and for inflammatory diseases with high unmet needs. The Company’s science is based on an understanding of the role that carbohydrates play in cell recognition and its specialized chemistry platform to discover small molecule drugs, known as glycomimetics, which alter carbohydrate-mediated recognition in diverse disease states, including cancer and inflammation. As a leader in this science, GlycoMimetics leverages this unique approach to advance its pipeline of wholly-owned drug candidates, with the goal of developing transformative therapies for diseases with high unmet need. GlycoMimetics is headquartered in Rockville, MD in the BioHealth Capital Region. Learn more at www.glycomimetics.com.
What is the significance of the stock option grant to Debora Peralta at GlycoMimetics (GLYC)?
The stock option grant incentivizes Debora Peralta's role as Vice President, Commercial Operations, aligning her interests with the company's performance.
When was the stock option for GlycoMimetics (GLYC) granted to Debora Peralta?
The stock option for Debora Peralta was granted on January 31, 2023.
What is the exercise price of the stock option awarded to Debora Peralta at GlycoMimetics (GLYC)?
The exercise price of the stock option awarded to Debora Peralta is $2.91 per share.
How many shares were included in the stock option grant to Debora Peralta at GlycoMimetics (GLYC)?
The stock option grant to Debora Peralta included 100,000 shares.
