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

Rhea-AI Summary

G1 Therapeutics (GTHX) announced the grant of stock options for a total of 158,100 shares to employees under its Inducement Equity Incentive Plans. This includes 101,700 shares under the Inducement Plan and 56,400 shares under the Sales Force Inducement Plan. The options are priced at $12.51 and have a ten-year term, vesting over four years. These grants aim to attract new talent to the company, aligning with Nasdaq Listing Rule requirements.

Positive

• Grant of 158,100 stock options could enhance employee retention and attraction.
• Options priced at $12.51, aligning with the company’s current stock value.

Negative

• None.

RESEARCH TRIANGLE PARK, N.C., Dec. 01, 2021 (GLOBE NEWSWIRE) -- G1 Therapeutics, Inc. (Nasdaq: GTHX), a commercial-stage oncology company, today announced the grant of inducement stock options exercisable for an aggregate of 101,700 shares of G1’s common stock to seven employees under the G1 Therapeutics, Inc. 2021 Inducement Equity Incentive Plan (the “Inducement Plan”), and an aggregate of 56,400 shares of G1’s common stock to eight employees under the previously-announced G1 Therapeutics, Inc. 2021 Sales Force Inducement Equity Incentive Plan (“Sales Force Inducement Plan”). The stock options were granted as an inducement material to the new employee’s becoming an employee of G1 in accordance with Nasdaq Listing Rule 5635(c)(4).

The Inducement Plan and the Sales Force Inducement Plan are 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 $12.51 per share, the closing price of G1’s common stock on December 1, 2021, the grant date. Each stock option has up to a ten-year term and vests 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 stock options are subject to the terms and conditions of the Inducement Plan.

About G1 Therapeutics
G1 Therapeutics, Inc. is a commercial-stage biopharmaceutical company focused on the development and commercialization of next generation therapies that improve the lives of those affected by cancer, including the Company’s first commercial product, COSELA™ (trilaciclib). G1 has a deep clinical pipeline and is executing a tumor-agnostic development plan evaluating COSELA in a variety of solid tumors, including colorectal, breast, lung, and bladder cancers. G1 Therapeutics is based in Research Triangle Park, N.C. For additional information, please visit www.g1therapeutics.com and follow us on Twitter @G1Therapeutics.

G1 Therapeutics™ and the G1 Therapeutics logo are trademarks of G1 Therapeutics, Inc.

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

FAQ

What stock options did G1 Therapeutics grant in December 2021?

G1 Therapeutics granted 158,100 stock options, with 101,700 under the Inducement Plan and 56,400 under the Sales Force Inducement Plan.

What is the exercise price of the stock options granted by G1 Therapeutics?

The exercise price for the stock options is $12.51 per share.

What is the vesting schedule for the stock options granted to G1 Therapeutics employees?

The stock options vest over four years, with 25% vesting on the first anniversary and the remainder vesting monthly.

Why did G1 Therapeutics grant stock options to new employees?

The stock options were granted as an inducement for new employees to join G1 Therapeutics in compliance with Nasdaq Listing Rule 5635.

How many employees received stock options from G1 Therapeutics?

Seven employees received stock options under the Inducement Plan, and eight employees under the Sales Force Inducement Plan.