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

Rhea-AI Summary

Gossamer Bio, Inc. (Nasdaq: GOSS) granted 1,500,000 stock options to Bob Smith, the newly appointed Chief Commercial Officer, with an exercise price of $0.969 per share. The options will vest over four years, subject to Mr. Smith’s 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), today announced that it has granted stock options to Bob Smith, Gossamer’s newly appointed Chief Commercial Officer. The Compensation Committee of Gossamer’s Board of Directors approved the grant, effective December 4, 2023, to Mr. Smith of a stock option to purchase 1,500,000 shares of the Company’s common stock under the Gossamer Bio, Inc. 2023 Employment Inducement Incentive Award Plan (“2023 Inducement Plan”). The award was granted as an inducement material to Mr. Smith entering into employment with Gossamer in accordance with Nasdaq Listing Rule 5635(c)(4).

The options have an exercise price of $0.969 per share, which is equal to the closing price of Gossamer Bio’s common stock as reported by The Nasdaq Global Select Market on December 4, 2023. The options have a ten-year term and will vest over four years, with 25% vesting on the one-year anniversary of Mr. Smith’s date of commencement of employment and the balance of the shares vesting in a series of 36 successive monthly installments thereafter, subject to Mr. Smith’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 grant.

About Gossamer Bio

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20231205707079/en/

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 ticker symbol for Gossamer Bio, Inc.?

The ticker symbol for Gossamer Bio, Inc. is GOSS.

How many stock options were granted to Bob Smith by Gossamer Bio, Inc.?

Gossamer Bio, Inc. granted 1,500,000 stock options to Bob Smith.

What is the exercise price of the stock options granted to Bob Smith by Gossamer Bio, Inc.?

The exercise price of the stock options granted to Bob Smith by Gossamer Bio, Inc. is $0.969 per share.

How long is the vesting period for the stock options granted to Bob Smith by Gossamer Bio, Inc.?

The stock options granted to Bob Smith by Gossamer Bio, Inc. will vest over four years, with 25% vesting on the one-year anniversary of Mr. Smith’s date of commencement of employment and the balance of the shares vesting in a series of 36 successive monthly installments thereafter.

What is the role of Bob Smith at Gossamer Bio, Inc.?

Bob Smith is the newly appointed Chief Commercial Officer at Gossamer Bio, Inc.