IMUNON Reports Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)
IMUNON, Inc. (NASDAQ: IMNN), a clinical-stage company developing DNA-mediated immunotherapy, has announced the approval of inducement stock options by its Compensation Committee. The grants include:
1. Options to purchase 60,000 shares of common stock for one individual hired in Q4 2024.
2. Options to purchase 50,000 shares of common stock for Susan Eylward, hired as General Counsel and Secretary effective October 7, 2024.
These grants, made on October 7, 2024, comply with Nasdaq Listing Rule 5635(c)(4). The options have a 10-year term and a four-year vesting schedule, with 25% vesting on the first anniversary and the remainder vesting annually until fully vested on the fourth anniversary, subject to continued employment.
IMUNON, Inc. (NASDAQ: IMNN), un'azienda in fase clinica che sviluppa immunoterapia mediata da DNA, ha annunciato l'approvazione delle opzioni su azioni di incentivazione da parte del suo Comitato per la Compensazione. Le concessioni includono:
1. Opzioni per l'acquisto di 60.000 azioni ordinarie per una persona assunta nel quarto trimestre del 2024.
2. Opzioni per l'acquisto di 50.000 azioni ordinarie per Susan Eylward, assunta come Consigliere Generale e Segretario a partire dal 7 ottobre 2024.
Queste concessioni, effettuate il 7 ottobre 2024, sono conformi alla Regola di quotazione 5635(c)(4) di Nasdaq. Le opzioni hanno un termine di 10 anni e un programa di vesting di quattro anni, con il 25% che matura alla prima scadenza e il restante matura annualmente fino a un completo vesting alla quarta scadenza, a condizione di un'occupazione continuativa.
IMUNON, Inc. (NASDAQ: IMNN), una empresa en etapa clínica que desarrolla inmunoterapia mediada por ADN, ha anunciado la aprobación de opciones sobre acciones de incentivo por su Comité de Compensación. Las concesiones incluyen:
1. Opciones para comprar 60,000 acciones ordinarias para una persona contratada en el cuarto trimestre de 2024.
2. Opciones para comprar 50,000 acciones ordinarias para Susan Eylward, contratada como Consejera General y Secretaria a partir del 7 de octubre de 2024.
Estas concesiones, realizadas el 7 de octubre de 2024, cumplen con la Regla de Cotización 5635(c)(4) de Nasdaq. Las opciones tienen un plazo de 10 años y un programa de adquisición de cuatro años, con el 25% adquiriéndose en el primer aniversario y el resto adquiriéndose anualmente hasta completar la adquisición en el cuarto aniversario, sujeto a empleo continuo.
IMUNON, Inc. (NASDAQ: IMNN), DNA 기반 면역 치료를 개발하는 임상 단계 회사가 보상위원회의 유인 주식 옵션 승인을 발표했습니다. 제공 내용은 다음과 같습니다:
1. 2024년 4분기 채용된 개인을 위해 60,000주 보통주를 구매할 수 있는 옵션.
2. 2024년 10월 7일 효력 발생하는 일반 고문 및 비서로 채용된 Susan Eylward를 위한 50,000주 보통주 구매 옵션.
이러한 제공은 2024년 10월 7일에 이루어지며, Nasdaq 상장 규칙 5635(c)(4)에 부합합니다. 옵션은 10년 기한과 4년 분할 조건이 있으며, 1주년 기념일에 25%가 발생하고, 남은 부분은 연간 발생하여 4주년 기념일까지 완전히 발생할 수 있으며, 지속적인 고용 조건을 따릅니다.
IMUNON, Inc. (NASDAQ: IMNN), une société en phase clinique développant une immunothérapie médiée par ADN, a annoncé l'approbation de stock options d'incitation par son Comité de Rémunération. Les concessions comprennent :
1. Options pour acheter 60 000 actions ordinaires pour une personne embauchée au quatrième trimestre de 2024.
2. Options pour acheter 50 000 actions ordinaires pour Susan Eylward, embauchée en tant que Conseillère Générale et Secrétaire à partir du 7 octobre 2024.
Ces concessions, réalisées le 7 octobre 2024, sont conformes à la Règle de cotation 5635(c)(4) de Nasdaq. Les options ont une durée de 10 ans et un calendrier d'acquisition de quatre ans, avec 25 % d'acquisition au premier anniversaire et le reste acquérant annuellement jusqu'à une acquisition complète au quatrième anniversaire, sous réserve d'un emploi continu.
IMUNON, Inc. (NASDAQ: IMNN), ein Unternehmen in klinischer Phase, das DNA-vermittelte Immuntherapie entwickelt, hat die Genehmigung von Incentive-Aktienoptionen durch seinen Vergütungsausschuss bekannt gegeben. Die Zuteilungen umfassen:
1. Optionen zur Erwerbung von 60.000 Stammaktien für eine Person, die im vierten Quartal 2024 eingestellt wird.
2. Optionen zum Erwerb von 50.000 Stammaktien für Susan Eylward, die ab dem 7. Oktober 2024 als General Counsel und Sekretärin eingestellt wird.
Diese Zuteilungen, die am 7. Oktober 2024 erfolgen, entsprechen der Nasdaq-Listing-Regel 5635(c)(4). Die Optionen haben eine Laufzeit von 10 Jahren und einen Vesting-Zeitraum von vier Jahren, wobei 25% am ersten Jahrestag und der Rest jährlich bis zur vollständigen Ausschüttung am vierten Jahrestag mit Bedingungen für eine weiterhin bestehende Anstellung fällig werden.
- Attraction of new talent with stock options as incentives
- Appointment of Susan Eylward as General Counsel and Secretary
- Potential dilution of existing shareholders due to new stock options
LAWRENCEVILLE, N.J., Oct. 07, 2024 (GLOBE NEWSWIRE) -- IMUNON, Inc. (NASDAQ: IMNN) (the “Company”), a clinical-stage company in late-stage development with its DNA-mediated immunotherapy, today announced that the Compensation Committee of the Company’s Board of Directors approved the grant of (i) inducement stock options to purchase a total of 60,000 shares of the Company’s common stock to one individual hired by Imunon during the fourth quarter of 2024 and (ii) inducement stock options to purchase a total of 50,000 shares of common stock to Susan Eylward, hired by Imunon as General Counsel and Secretary effective October 7, 2024 (collectively, the “Inducement Option Grants”). The Inducement Option Grants were approved in accordance with Nasdaq Listing Rule 5635(c)(4) and were made on October 7, 2024, as a material inducement to each employee’s entry into employment with the Company.
The Inducement Option Grants have an exercise price per share equal to the closing price of Imunon's common stock as reported by Nasdaq on October 7, 2024. The Inducement Option Grants have a 10-year term and a four-year vesting schedule, with
About IMUNON
IMUNON is a clinical-stage biotechnology company focused on advancing a portfolio of innovative treatments that harness the body’s natural mechanisms to generate safe, effective and durable responses across a broad array of human diseases, constituting a differentiating approach from conventional therapies. IMUNON is developing its non-viral DNA technology across its modalities. The first modality, TheraPlas®, is developed for the coding of cytokines and other therapeutic proteins in the treatment of solid tumors where an immunological approach is deemed promising. The second modality, PlaCCine®, is developed for the delivery of DNA-coded viral antigens that can elicit a strong immunological response.
The Company’s lead clinical program, IMNN-001, is a DNA-based immunotherapy for the localized treatment of advanced ovarian cancer that has completed Phase 2 development. IMNN-001 works by instructing the body to produce safe and durable levels of powerful cancer-fighting molecules, such as interleukin-12 and interferon gamma, at the tumor site. Additionally, the Company has entered a first-in-human study of its COVID-19 booster vaccine (IMNN-101). IMUNON will continue to leverage these modalities and to advance the technological frontier of plasmid DNA to better serve patients with difficult-to-treat conditions. For more information, please visit www.imunon.com.
Forward-Looking Statements
IMUNON wishes to inform readers that forward-looking statements in this news release are made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including, but not limited to, statements regarding the Company’s plans and expectations with respect to its business, are forward-looking statements. We generally identify forward-looking statements by using words such as “may,” “will,” “expect,” “plan,” “anticipate,” “estimate,” “intend” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances). Readers are cautioned that such forward-looking statements involve risks and uncertainties including, without limitation, uncertainties relating to unforeseen changes in the course of research and development activities and in clinical trials, including the fact that interim results are not necessarily indicative of final results; the uncertainties of and difficulties in analyzing interim clinical data; the significant expense, time and risk of failure of conducting clinical trials; the need for IMUNON to evaluate its future development plans; possible actions by customers, suppliers, competitors or regulatory authorities; and other risks detailed from time to time in IMUNON’s filings with the Securities and Exchange Commission. IMUNON assumes no obligation, except to the extent required by law, to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise.
Contacts:
| IMUNON | LHA Investor Relations |
| David Gaiero | Kim Sutton Golodetz |
| 978-376-6352 | 212-838-3777 |
| dgaiero@imunon.com | Kgolodetz@lhai.com |
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FAQ
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