Gossamer Bio Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Gossamer Bio (Nasdaq: GOSS) announced that its Compensation Committee approved stock option grants to two new non-executive employees under the 2023 Employment Inducement Incentive Award Plan. The grants total 183,000 shares with an exercise price of $0.88 per share, matching Nasdaq's closing price on November 8, 2024. The options have a ten-year term and will vest over four years, with 25% vesting after one year and the remainder vesting monthly over 36 months, contingent on continued employment.

SAN DIEGO--(BUSINESS WIRE)-- Gossamer Bio, Inc. (Nasdaq: GOSS), a clinical-stage biopharmaceutical company focused on the development and commercialization of seralutinib for the treatment of pulmonary arterial hypertension (PAH) and pulmonary hypertension associated with interstitial lung disease (PH-ILD), today announced that the Compensation Committee of Gossamer’s Board of Directors approved the grant, effective November 8, 2024, to two new non-executive employees of non-qualified stock option awards to purchase up to an aggregate of 183,000 shares of the Company’s common stock under the Gossamer Bio, Inc. 2023 Employment Inducement Incentive Award Plan (“2023 Inducement Plan”). The awards were granted as an inducement material to the employees entering into employment with Gossamer in accordance with Nasdaq Listing Rule 5635(c)(4).

The options have an exercise price of $0.88 per share, which is equal to the closing price of Gossamer’s common stock as reported by The Nasdaq Global Select Market on November 8, 2024. The options have a ten-year term and will vest over four years, with 25% vesting on the one-year anniversary of the applicable vesting commencement date and the balance of the shares vesting in a series of 36 successive monthly installments thereafter, subject to each employee’s continued employment with Gossamer on such vesting dates. The options are subject to the terms and conditions of the 2023 Inducement Plan and the terms and conditions of a stock option agreement covering the grants.

About Gossamer Bio

Gossamer Bio is a clinical-stage biopharmaceutical company focused on the development and commercialization of seralutinib for the treatment of pulmonary hypertension. Its goal is to be an industry leader in, and to enhance the lives of patients living with, pulmonary hypertension.

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For Investors and Media:

Bryan Giraudo, Chief Operating Officer and Chief Financial Officer

Gossamer Bio Investor Relations

ir@gossamerbio.com

Source: Gossamer Bio, Inc.

FAQ

What is the exercise price of Gossamer Bio's (GOSS) inducement stock options granted on November 8, 2024?

The exercise price of the inducement stock options is $0.88 per share, equal to Gossamer Bio's closing price on Nasdaq on November 8, 2024.

How many shares were granted in Gossamer Bio's (GOSS) November 2024 inducement stock option awards?

Gossamer Bio granted stock options to purchase up to 183,000 shares of common stock to two new non-executive employees.

What is the vesting schedule for Gossamer Bio's (GOSS) November 2024 inducement stock options?

The options vest over four years, with 25% vesting after one year and the remaining balance vesting in 36 monthly installments, subject to continued employment.