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 under Nasdaq Listing Rule 5635(c)(4). The Compensation Committee of Gossamer's Board of Directors has approved non-qualified stock option awards for one non-executive employee to purchase up to 55,000 shares of common stock under the company's 2023 Employment Inducement Incentive Award Plan.

The options, granted on April 7, 2025, have an exercise price of $0.82 per share, matching the closing price of Gossamer's common stock on Nasdaq Global Select Market. The options feature a ten-year term with a four-year vesting schedule: 25% vesting after one year, followed by the remaining balance vesting in 36 monthly installments, contingent on continued employment.

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 April 7, 2025, to one non-executive employee of non-qualified stock option awards to purchase up to an aggregate of 55,000 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 employee entering into employment with Gossamer in accordance with Nasdaq Listing Rule 5635(c)(4).

The options have an exercise price of $0.82 per share, which is equal to the closing price of Gossamer’s common stock as reported by The Nasdaq Global Select Market on April 7, 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 the 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/20250408782517/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 exercise price of GOSS stock options granted on April 7, 2025?

The stock options were granted at an exercise price of $0.82 per share, equal to GOSS's closing price on April 7, 2025.

How many shares are included in the GOSS inducement grant for April 2025?

The inducement grant includes options to purchase up to 55,000 shares of Gossamer Bio's common stock.

What is the vesting schedule for GOSS's April 2025 inducement stock options?

The options vest over 4 years: 25% after one year, with remaining shares vesting in 36 monthly installments.

How long is the term for GOSS's April 2025 inducement stock options?

The stock options have a ten-year term from the grant date of April 7, 2025.