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

Rhea-AI Summary

Mural Oncology plc (MURA) granted non-statutory stock options and restricted stock units to newly hired employees as an inducement material. The options have an exercise price of $5.39 per share and vest over four years, while the restricted stock units vest 25% per year over four years.

DUBLIN, Ireland, March 04, 2024 (GLOBE NEWSWIRE) -- Mural Oncology plc (Nasdaq: MURA), a clinical-stage immuno-oncology company leveraging its core competencies in immune cell modulation and protein engineering to develop novel, investigational engineered cytokine therapies designed to address areas of unmet need for patients with a variety of cancers, today announced that on March 1, the Company granted to two newly hired employees (i) non-statutory stock options to purchase an aggregate of 4,225 ordinary shares of the Company and (ii) restricted stock units with respect to an aggregate of 2,275 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 $5.39 per share, which is equal to the closing price per share of the Company’s ordinary shares as reported by Nasdaq on March 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.

Contacts

Investors:
David Borah, CFA
david.borah@muraloncology.com

Media:
Katie Sullivan
katie.sullivan@muraloncology.com

FAQ

What type of stock options and stock units did Mural Oncology plc grant to newly hired employees?

Mural Oncology plc granted non-statutory stock options and restricted stock units to newly hired employees.

What is the exercise price of the stock options granted by Mural Oncology plc?

The exercise price of the stock options granted by Mural Oncology plc is $5.39 per share.

How long is the term of the stock options granted by Mural Oncology plc?

The stock options granted by Mural Oncology plc have a ten-year term.

How do the stock options vest for the employees of Mural Oncology plc?

The stock options 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.

What are the conditions for vesting the restricted stock units granted by Mural Oncology plc?

The restricted stock units vest over four years, 25% per year on the anniversary of the grant date, subject to the employee's continued service with the Company.