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

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Karyopharm Therapeutics Inc. has granted 26,850 restricted stock units to seven newly-hired employees as part of its 2022 Inducement Stock Incentive Plan. The RSU awards will vest over three years, and each award is subject to the employee's continued service with the company. Additionally, the awards will be immediately exercisable in full in the event of a 'change in control event' and certain termination conditions.

NEWTON, Mass., Feb. 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 26,850 restricted stock units (RSUs) to seven newly-hired employees. These RSU awards were granted as of January 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

What is the Nasdaq ticker symbol for Karyopharm Therapeutics Inc.?

The Nasdaq ticker symbol for Karyopharm Therapeutics Inc. is KPTI.

How many restricted stock units were granted to newly-hired employees?

Karyopharm Therapeutics Inc. granted 26,850 restricted stock units to seven newly-hired employees.

What is the vesting period for the RSU awards?

Each RSU award will vest over three years.

Under what conditions will the RSU awards be immediately exercisable in full?

The RSU awards will be immediately exercisable in full in the event of a 'change in control event' and certain termination conditions.

What is the purpose of the RSU awards?

The RSU awards are inducements material to the new employees entering into employment with Karyopharm in accordance with Nasdaq Listing Rule 5635(c)(4).