Mirati Therapeutics Reports Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)

SAN DIEGO, May 5, 2023 /PRNewswire/ -- Mirati Therapeutics, Inc.^® (NASDAQ: MRTX), a clinical-stage targeted oncology company, today announced that the company granted equity awards to 2 new employees with a grant date of May 1, 2023, as equity inducement awards outside of the company's 2022 Equity Incentive Plan (but under the terms of the company's Inducement Plan) and material to the employees' acceptance of employment with the company. The equity awards were approved in accordance with Nasdaq Listing Rule 5635(c)(4).

Specifically, John Moriarty, newly appointed as Chief Legal Officer and Corporate Secretary received options to purchase 83,525 shares of Mirati's common stock and 49,363 restricted stock units ("RSUs"). In addition, the other employee received options to purchase 2,955 shares of Mirati's common stock, and 1,747 RSUs. The options have an exercise price of $45.88 per share, which is equal to the closing price of Mirati's common stock on May 1, 2023, (the "Grant Date"). One-fourth of the shares underlying the employee options will vest on the one-year anniversary of the Grant Date and thereafter 1/48th of the shares underlying the employee options will vest monthly, such that the shares underlying the options granted to the employees will be fully vested on the fourth anniversary of the Grant Date, subject to the employees' continued employment with Mirati on such vesting dates. Each RSU will vest as to 25% of the shares underlying the RSU award on the first anniversary of the Grant Date and as to an additional 25% of the shares underlying the RSU award annually thereafter, subject to each such employee's continued employment on each vesting date.

About Mirati Therapeutics, Inc. ^®

Mirati Therapeutics, Inc. is a commercial stage biotechnology company whose mission is to discover, design and deliver breakthrough therapies to transform the lives of patients with cancer and their loved ones. The company is relentlessly focused on bringing forward therapies that address areas of high unmet need, including lung cancer, and advancing a pipeline of novel therapeutics targeting the genetic and immunological drivers of cancer. Unified for patients, Mirati's vision is to unlock the science behind the promise of a life beyond cancer.

For more information about Mirati, visit us at Mirati.com or follow us on Twitter, LinkedIn, and Facebook.

Mirati Contacts
Investor Relations: ir@mirati.com
Media Relations: media@mirati.com

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SOURCE Mirati Therapeutics, Inc.