G1 Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

G1 Therapeutics, Inc. (Nasdaq: GTHX) announced the grant of inducement stock options and restricted stock units to a new employee under the Amended and Restated G1 Therapeutics, Inc. 2021 Inducement Equity Incentive Plan. The stock options are exercisable at $2.00 per share, with a ten-year term and vesting over four years, while the RSUs have a four-year term and vesting over the same period.

RESEARCH TRIANGLE PARK, N.C., Dec. 01, 2023 (GLOBE NEWSWIRE) -- G1 Therapeutics, Inc. (Nasdaq: GTHX), a commercial-stage oncology company, today announced the grant of inducement stock options exercisable for 4,700 shares of G1’s common stock and 2,300 restricted stock units (RSUs) to one hired employee under the Amended and Restated G1 Therapeutics, Inc. 2021 Inducement Equity Incentive Plan (the “Amended and Restated 2021 Plan”). These equity awards were granted as an inducement material to the new employee becoming an employee of G1 in accordance with Nasdaq Listing Rule 5635(c)(4).

The Amended and Restated 2021 Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of G1 (or following a bona fide period of non-employment), as an inducement material to such individual’s entering into employment with G1, pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules.

The stock options are exercisable at a price of $2.00 per share, the closing price of G1’s common stock on December 1, 2023, the grant date. The stock options have up to a ten-year term and vest over four years, with 25% of the award vesting on the first anniversary of the employee’s employment, and as to an additional 1/48th of the shares monthly thereafter, subject to continued service through the applicable vesting dates (subject to the terms and conditions of the stock option agreement covering the grant). The RSUs have a four-year term, with 25% of the award vesting on the first anniversary of the grant date, and the remainder vesting 12.5% semi-annually over the remaining three years, subject to continued service through the applicable vesting dates (subject to the terms and conditions of the RSU agreement covering the grant). The stock options and RSUs are subject to the terms and conditions of the Amended and Restated 2021 Plan.

About G1 Therapeutics
G1 Therapeutics, Inc. is a commercial-stage oncology biopharmaceutical company whose mission is to develop and deliver next-generation therapies that improve the lives of those affected by cancer, including the Company’s first commercial product, COSELA® (trilaciclib). The Company is also evaluating therapies in combination with cytotoxic therapies and/or immunotherapy in areas of high unmet need including triple-negative breast cancer and extensive stage small cell lung cancer. G1’s goal is to provide innovative therapeutic advances for people living with cancer. G1 is based in Research Triangle Park, N.C. For additional information, please visit http://www.g1therapeutics.com and follow us on X (formerly known as Twitter) @G1Therapeutics and LinkedIn.

G1 Therapeutics® and the G1 Therapeutics logo and COSELA® and the COSELA logo are trademarks of G1 Therapeutics, Inc.

Contact:

Will Roberts
G1 Therapeutics, Inc.
Communications Officer
Vice President, Investor Relations and Corporate Communications
(919) 907-1944
wroberts@g1therapeutics.com

 

FAQ

What did G1 Therapeutics, Inc. (GTHX) announce?

G1 Therapeutics, Inc. announced the grant of inducement stock options and restricted stock units to a new employee under the Amended and Restated G1 Therapeutics, Inc. 2021 Inducement Equity Incentive Plan.

How many shares are the stock options exercisable for?

The stock options are exercisable for 4,700 shares of G1's common stock.

What is the price at which the stock options are exercisable?

The stock options are exercisable at a price of $2.00 per share.

What is the vesting period for the stock options?

The stock options have a ten-year term and vest over four years, with 25% of the award vesting on the first anniversary of the employee’s employment, and as to an additional 1/48th of the shares monthly thereafter.

What is the vesting period for the RSUs?

The RSUs have a four-year term, with 25% of the award vesting on the first anniversary of the grant date, and the remainder vesting 12.5% semi-annually over the remaining three years.

What is the Amended and Restated 2021 Plan used for?

The Amended and Restated 2021 Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of G1, as an inducement material to such individual’s entering into employment with G1.