Mural Oncology Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Mural Oncology, a clinical-stage immuno-oncology company, announced on July 1, 2024, the granting of non-statutory stock options and restricted stock units under its 2024 Inducement Stock Option and Incentive Plan. The grants were made as inducements for four newly hired employees under Nasdaq Listing Rule 5635(c)(4). The stock options cover 15,470 ordinary shares at an exercise price of $3.11, with a ten-year term and a vesting schedule of four years. The restricted stock units cover 8,330 ordinary shares, also vesting over four years. Both grants are subject to the terms of respective award agreements and the company's 2024 Inducement Plan.

WALTHAM, Mass. and DUBLIN, July 02, 2024 (GLOBE NEWSWIRE) -- Mural Oncology plc (Nasdaq: MURA), a clinical-stage immuno-oncology company developing novel, investigational engineered cytokine therapies designed to address areas of unmet need for patients with a variety of cancers, today announced that on July 1, the Company granted to four newly hired employees (i) non-statutory stock options to purchase an aggregate of 15,470 ordinary shares of the Company and (ii) restricted stock units with respect to an aggregate of 8,330 ordinary shares of the Company, pursuant to the Company’s 2024 Inducement Stock Option and Incentive Plan, each as an inducement material to the new employees entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).

The stock options have an exercise price of $3.11 per share, which is equal to the closing price per share of the Company’s ordinary shares as reported by Nasdaq on July 1, 2024. The options have a ten-year term and vest over four years, with 25% of the original number of shares vesting on the first anniversary of the grant date and 6.25% of the shares underlying the options vesting quarterly thereafter, subject to such employee’s continued service with the Company through the applicable vesting dates. Each of the stock options is subject to the terms and conditions of a stock option award agreement covering the grant and the Company’s 2024 Inducement Stock Option and Incentive Plan. The restricted stock units vest over four years, 25% per year on the anniversary of the grant date, subject to such employee’s continued service with the Company through the applicable vesting dates. Each of the restricted stock units is subject to the terms and conditions of a restricted stock award agreement covering the grant and the Company’s 2024 Inducement Stock Option and Incentive Plan.

About Mural Oncology
Mural Oncology is leveraging its novel protein engineering platform to develop cytokine-based immunotherapies for the treatment of cancer. By combining our expertise in cytokine biology and immune cell modulation and our protein engineering platform, we are developing medicines to deliver meaningful and clinical benefits to people living with cancer. Our mission is to broaden the potential and reach of cytokine-based immunotherapies to improve the lives of patients. Our lead candidate, nemvaleukin, is currently in potentially registrational trials in mucosal melanoma and platinum-resistant ovarian cancer. Mural Oncology has its registered office in Dublin, Ireland, and its primary facilities in Waltham, Mass. For more information, visit Mural Oncology’s website at www.muraloncology.com and follow us on LinkedIn and X.

Contact

Katie Sullivan
katie.sullivan@muraloncology.com

FAQ

What did Mural Oncology announce on July 1, 2024?

Mural Oncology announced the granting of stock options and restricted stock units to new employees under its 2024 Inducement Stock Option and Incentive Plan.

What are the details of Mural Oncology's new stock option grants?

The stock options cover 15,470 ordinary shares, have an exercise price of $3.11, a ten-year term, and vest over four years.

What are the details of Mural Oncology's restricted stock units awards?

The restricted stock units cover 8,330 ordinary shares and vest over four years, 25% per year on the anniversary of the grant date.

Under which Nasdaq Listing Rule did Mural Oncology make these grants?

Mural Oncology made these grants under Nasdaq Listing Rule 5635(c)(4).

What is the stock symbol for Mural Oncology?

The stock symbol for Mural Oncology is MURA.