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

Rhea-AI Summary

G1 Therapeutics (GTHX) has granted inducement stock options to eight new employees, totaling 43,400 shares under its 2021 Inducement Equity Incentive Plan. The options have an exercise price of $15.32 per share and a vesting schedule of 25% on the first anniversary, followed by monthly vesting over four years. This grant is part of G1's strategy to attract talent and complies with Nasdaq Listing Rule 5635(c)(4). G1 Therapeutics focuses on developing innovative therapies for cancer, including its first product, COSELA™.

Positive

• Inducement stock options granted to eight new employees, totaling 43,400 shares.
• Stock options have a competitive exercise price of $15.32 per share.
• Vesting schedule incentivizes long-term retention of new employees.

Negative

• None.

RESEARCH TRIANGLE PARK, N.C., Sept. 03, 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 43,400 shares of G1’s common stock to eight employees under the G1 Therapeutics, Inc. 2021 Inducement Equity Incentive Plan (the “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 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 $15.32 per share, the closing price of G1’s common stock on September 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.

Contact:

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

FAQ

What recent stock option grants has G1 Therapeutics announced?

G1 Therapeutics announced the grant of 43,400 stock options to eight new employees under its 2021 Inducement Equity Incentive Plan.

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

The stock options were granted with an exercise price of $15.32 per share.

How does the vesting schedule work for the new stock options at G1 Therapeutics?

The stock options vest 25% on the first anniversary of employment and monthly thereafter over four years.

What is the purpose of the 2021 Inducement Equity Incentive Plan?

The plan aims to attract new employees by granting equity awards as an inducement for employment.