Karyopharm Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Karyopharm Therapeutics (Nasdaq: KPTI) announced on April 3, 2023, the grant of 221,900 restricted stock units (RSUs) to thirteen new employees, effective March 31, 2023. The RSUs will vest over three years, with one-third vesting annually. Additionally, Senior VP Tahira Payne received 60,000 RSUs, vesting at 25% each year for four years. These equity awards comply with the 2022 Inducement Stock Incentive Plan and Nasdaq Listing Rule 5635(c)(4). The vesting of awards is contingent on ongoing employment, with provisions for immediate vesting upon certain terminations of employment.
- Grant of 221,900 RSUs enhances employee retention and incentivizes new hires.
- Appointment of experienced Senior VP signifies strategic growth.
- None.
In addition, the Company granted an award of 60,000 RSUs to
Each of these equity awards were granted 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). 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).
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