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

Rhea-AI Summary

Mural Oncology plc (Nasdaq: MURA), a clinical-stage immuno-oncology company, announced on August 2, 2024, that it granted stock options and restricted stock units to a newly hired employee on August 1. The grants include:

1. Non-statutory stock options to purchase 13,000 ordinary shares
2. Restricted stock units for 7,000 ordinary shares

These grants were made under the company's 2024 Inducement Stock Option and Incentive Plan, in accordance with Nasdaq Listing Rule 5635(c)(4). The stock options have an exercise price of $3.48 per share, equal to the closing price on August 1, 2024. They have a ten-year term and vest over four years. The restricted stock units also vest over four years, with 25% vesting annually.

Positive

• Mural Oncology is attracting new talent with equity-based compensation
• The company has an established inducement plan for new hires, indicating a structured approach to recruitment

Negative

• None.

WALTHAM, Mass. and DUBLIN, Aug. 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 August 1, the Company granted to one newly hired employee (i) non-statutory stock options to purchase an aggregate of 13,000 ordinary shares of the Company and (ii) restricted stock units with respect to an aggregate of 7,000 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 $3.48 per share, which is equal to the closing price per share of the Company’s ordinary shares as reported by Nasdaq on August 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 stock options did Mural Oncology (MURA) grant to a new employee on August 1, 2024?

Mural Oncology granted non-statutory stock options to purchase 13,000 ordinary shares with an exercise price of $3.48 per share, vesting over four years.

How many restricted stock units did Mural Oncology (MURA) award to the new hire on August 1, 2024?

Mural Oncology awarded 7,000 restricted stock units to the newly hired employee, vesting over four years with 25% vesting annually.

What is the vesting schedule for the stock options granted by Mural Oncology (MURA) on August 1, 2024?

The stock options vest over four years, with 25% vesting on the first anniversary and 6.25% vesting quarterly thereafter, subject to continued employment.

Under which plan did Mural Oncology (MURA) grant the inducement awards on August 1, 2024?

The inducement awards were granted under Mural Oncology's 2024 Inducement Stock Option and Incentive Plan, in accordance with Nasdaq Listing Rule 5635(c)(4).