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

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Karyopharm Therapeutics Inc. (Nasdaq: KPTI) announced the granting of 111,250 restricted stock units (RSUs) to eight new employees as part of its 2022 Inducement Stock Incentive Plan on February 28, 2023. The RSUs will vest over three years with one-third vesting on each anniversary of employment. If a change in control event occurs, the RSUs can be exercised if employment is terminated for good reason or without cause. Karyopharm specializes in innovative cancer therapies, notably its lead XPO1 inhibitor, XPOVIO®, which is approved in various regions for multiple oncology indications.

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• No immediate financial metrics or impacts on revenue are highlighted in the PR.
• Granting RSUs might signal potential future dilution of shares for existing investors.

NEWTON, Mass., March 1, 2023 /PRNewswire/ -- Karyopharm Therapeutics Inc. (Nasdaq: KPTI), a commercial-stage pharmaceutical company pioneering novel cancer therapies, today announced that the Company granted an aggregate of 111,250 restricted stock units (RSUs) to eight newly-hired employees. These RSU awards were granted as of February 28, 2023 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% percent of the shares underlying the RSU award vesting on each of the three consecutive anniversaries of the applicable employee's employment commencement 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 the 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, Singapore, Canada, Israel, South Korea and Australia. Karyopharm has a focused pipeline targeting multiple high unmet need cancer indications, including in multiple myeloma, endometrial cancer, myelodysplastic syndromes 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

What is the recent RSU grant by Karyopharm Therapeutics?

Karyopharm granted 111,250 restricted stock units to eight new employees as part of its inducement plan.

When were the RSUs granted by Karyopharm?

The RSUs were granted on February 28, 2023.

What is the vesting schedule for Karyopharm's RSUs?

The RSUs will vest over three years, with one-third vesting on each anniversary of employment.

What is Karyopharm Therapeutics' focus?

Karyopharm focuses on pioneering novel cancer therapies, particularly oral SINE compound technology.

What is XPOVIO® and its significance for Karyopharm?

XPOVIO® (selinexor) is Karyopharm's lead product, approved for multiple oncology indications in various regions.