Karyopharm Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

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Karyopharm Therapeutics Inc. granted 79,800 restricted stock units (RSUs) to five new employees as part of the 2022 Inducement Stock Incentive Plan. The RSUs will vest over three years, with specific conditions for early exercisability.

NEWTON, Mass., April 1, 2024 /PRNewswire/ -- Karyopharm Therapeutics Inc. (Nasdaq: KPTI), a commercial-stage pharmaceutical company pioneering novel cancer therapies, today announced that the Company granted an aggregate of 79,800 restricted stock units (RSUs) to five newly-hired employees. These RSU awards were granted as of March 31, 2024 (the "Grant Date") pursuant to the Company's 2022 Inducement Stock Incentive Plan, as amended, as inducements material to the new employees entering into employment with Karyopharm in accordance with Nasdaq Listing Rule 5635(c)(4).

Each RSU award will vest over three years, with 33 1/3% of the shares underlying the RSU award vesting on each of the three consecutive anniversaries of the Grant Date. The vesting of each RSU award is subject to the employee's continued service as an employee of, or other service provider to, Karyopharm through the applicable vesting dates. In addition, each RSU award will be immediately exercisable in full if, on or prior to the first anniversary of the consummation of a "change in control event," the employee's employment is terminated for "good reason" by the employee or terminated without "cause" by Karyopharm (as such terms are defined in the applicable RSU agreement).

About Karyopharm Therapeutics

Karyopharm Therapeutics Inc. (Nasdaq: KPTI) is a commercial-stage pharmaceutical company pioneering novel cancer therapies. Since its founding, Karyopharm has been an industry leader in oral Selective Inhibitor of Nuclear Export (SINE) compound technology, which was developed to address a fundamental mechanism of oncogenesis: nuclear export dysregulation. Karyopharm's lead SINE compound and first-in-class, oral exportin 1 (XPO1) inhibitor, XPOVIO® (selinexor), is approved in the U.S. and marketed by the Company in three oncology indications and has received regulatory approvals in various indications in a growing number of ex-U.S. territories and countries, including Europe and the United Kingdom (as NEXPOVIO®) and China. Karyopharm has a focused pipeline targeting multiple high unmet need cancer indications, including in multiple myeloma, endometrial cancer, myelodysplastic neoplasms and myelofibrosis. For more information about our people, science and pipeline, please visit www.karyopharm.com, and follow us on Twitter at @Karyopharm and LinkedIn.

XPOVIO^® and NEXPOVIO^® are registered trademarks of Karyopharm Therapeutics Inc.

 

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SOURCE Karyopharm Therapeutics Inc.

FAQ

How many restricted stock units (RSUs) were granted by Karyopharm Therapeutics Inc. to new employees?

Karyopharm Therapeutics Inc. granted an aggregate of 79,800 RSUs to five newly-hired employees.

What is the vesting period for the RSU awards?

Each RSU award will vest over three years, with 33 1/3% of the shares underlying the award vesting on each of the three consecutive anniversaries of the Grant Date.

What conditions are required for the RSU awards to be immediately exercisable in full?

Each RSU award will be immediately exercisable in full if, on or prior to the first anniversary of a 'change in control event,' the employee's employment is terminated for 'good reason' by the employee or terminated without 'cause' by Karyopharm.