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

Rhea-AI Summary

Gossamer Bio (Nasdaq: GOSS) has announced the approval of inducement grants to five non-executive employees under its 2023 Employment Inducement Incentive Award Plan. The Compensation Committee approved non-qualified stock option awards to purchase up to 342,250 shares of common stock, effective March 5, 2025.

The options were granted at an exercise price of $1.18 per share, matching the closing price of Gossamer's common stock on March 5, 2025. These ten-year term options will vest over four years, with 25% vesting on the one-year anniversary and the remaining balance vesting in 36 monthly installments, contingent on continued employment.

Positive

• Employee retention strategy through long-term stock options

Negative

• Potential shareholder dilution from 342,250 new stock options

SAN DIEGO--(BUSINESS WIRE)-- Gossamer Bio, Inc. (Nasdaq: GOSS), a late-stage, clinical 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 March 5, 2025, to five non-executive employees of non-qualified stock option awards to purchase up to an aggregate of 342,250 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 $1.18 per share, which is equal to the closing price of Gossamer’s common stock as reported by The Nasdaq Global Select Market on March 5, 2025. 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 late-stage, clinical biopharmaceutical company focused on the development and commercialization of seralutinib for the treatment of pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease. Its goal is to be an industry leader in, and to enhance the lives of patients living with, pulmonary hypertension.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250307270053/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 vesting schedule for Gossamer Bio's (GOSS) March 2025 employee stock options?

The options vest over 4 years, with 25% vesting after one year and the remainder vesting monthly over 36 months, subject to continued employment.

How many shares are included in Gossamer Bio's (GOSS) March 2025 inducement grant?

The inducement grant includes options to purchase up to 342,250 shares of common stock.

What is the exercise price for GOSS's March 2025 employee stock options?

The exercise price is $1.18 per share, equal to GOSS's closing price on March 5, 2025.

How long is the term of Gossamer Bio's (GOSS) March 2025 employee stock options?

The stock options have a ten-year term.