Olema Oncology Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Olema Pharmaceuticals, a clinical-stage biopharmaceutical company specializing in women's cancer therapies, announced the granting of stock options to four new employees. Effective June 3, 2024, these options allow the purchase of 51,600 shares of Olema's common stock. Approved under the 2022 Inducement Plan, the grants are part of the company's strategy to attract new talent, in line with Nasdaq Listing Rule 5635(c)(4). The stock options vest over four years, with an initial 25% vesting after one year and the remainder vesting monthly over three years. The options have a 10-year term and an exercise price of $11.76 per share, matching the stock's last reported sale price on June 3, 2024.
- Granted stock options to attract new talent, aligning with Nasdaq Listing Rule 5635(c)(4).
- The stock options cover 51,600 shares, reflecting a significant investment in new employees.
- Options have a 10-year term, providing long-term incentives for new employees.
- The exercise price of $11.76 per share aligns with the last reported sale price, potentially beneficial for employees if the stock value increases.
- Stock option grants could lead to shareholder dilution.
- The vesting period of four years means immediate impact on stock price may be
- Potential risk if new employees do not meet performance expectations.
SAN FRANCISCO, June 04, 2024 (GLOBE NEWSWIRE) -- Olema Pharmaceuticals, Inc. (“Olema” or “Olema Oncology”, Nasdaq: OLMA), a clinical-stage biopharmaceutical company focused on the discovery, development, and commercialization of targeted therapies for women’s cancers, today announced that the Company granted stock options to four new employees to purchase an aggregate of 51,600 shares of the Company's common stock, effective as of June 3, 2024. These awards were approved by the Compensation Committee of Olema’s Board of Directors and granted under the Company's 2022 Inducement Plan, with a grant date of June 3, 2024, as an inducement material to the new employees entering into employment with Olema, in accordance with Nasdaq Listing Rule 5635(c)(4).
The stock options vest over four years, with 25 percent vesting on the first anniversary of the vesting commencement date for such employee and the remainder vesting in 36 equal monthly installments over the following three years, subject to the employee being continuously employed by Olema as of such vesting dates. The stock options have a 10-year term and an exercise price of
Olema is providing this information in accordance with Nasdaq Listing Rule 5635(c)(4).
About Olema Oncology
Olema Oncology is a clinical-stage biopharmaceutical company committed to transforming the standard of care and improving outcomes for women living with cancer. Olema is advancing a pipeline of novel therapies by leveraging our deep understanding of endocrine-driven cancers, nuclear receptors, and mechanisms of acquired resistance. In addition to our lead product candidate, palazestrant (OP-1250), a proprietary, orally-available complete estrogen receptor (ER) antagonist (CERAN) and a selective ER degrader (SERD), Olema is developing a potent KAT6 inhibitor (OP-3136). Olema is headquartered in San Francisco and has operations in Cambridge, Massachusetts. For more information, please visit us at www.olema.com.
Contact:
Geoffrey Mogilner, Vice President, Investor Relations and Communications
ir@olema.com
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