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

Rhea-AI Summary

Olema Pharmaceuticals (Nasdaq: OLMA) announced the grant of stock options totaling 62,800 shares to two new employees, effective December 1, 2022. These options are part of the Company's 2022 Inducement Plan and were approved by the Board's Compensation Committee. The options will vest over four years, with 25% vesting on the first anniversary and the remainder in monthly installments. The exercise price is set at $2.85 per share, reflecting the stock's last reported price on the grant date. Olema is focused on therapies for women’s cancers, particularly its lead candidate OP-1250.

Positive

• Stock options granted to two new employees could enhance workforce motivation and retention.
• The exercise price of $2.85 aligns with the last reported stock price, potentially attracting new talent.

Negative

• None.

SAN FRANCISCO, Dec. 02, 2022 (GLOBE NEWSWIRE) -- Olema Pharmaceuticals, Inc. (“Olema,” “Olema Oncology” or the “Company,” 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 two new employees to purchase an aggregate of 62,800 shares of the Company's common stock, effective as of December 1, 2022. 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 December 1, 2022, as an inducement material to the new employee 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 $2.85 per share, equal to the last reported sale price of the Company's common stock as reported by Nasdaq on December 1, 2022. The stock options are subject to the terms of the Olema Pharmaceuticals, Inc., 2022 Inducement Plan.

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 focused on the discovery, development and commercialization of targeted therapies for women’s cancers. Olema’s lead product candidate, OP-1250, is a proprietary, orally-available small molecule with dual activity as both a complete estrogen receptor (ER) antagonist (CERAN) and a selective ER degrader (SERD). It is currently being evaluated both as a single agent in an ongoing Phase 2 clinical trial, and in combination with CDK 4/6 inhibitors (palbociclib and ribociclib) and a PI3Ka inhibitor (alpelisib), in patients with recurrent, locally advanced or metastatic ER-positive (ER+), human epidermal growth factor receptor 2-negative (HER2-) breast cancer. OP-1250 has been granted FDA Fast Track designation. Olema is headquartered in San Francisco and has operations in Cambridge, Massachusetts.

Contact:
Courtney Dugan, Vice President, Investor Relations and Communications
ir@olema.com

FAQ

What is the significance of the stock options granted by Olema (OLMA)?

The granting of stock options is aimed at attracting and retaining talent, which is crucial for the company's growth.

What is the vesting schedule for the stock options granted by Olema (OLMA)?

The stock options vest over four years, with 25% vesting on the first anniversary and the rest in monthly installments.

What is the exercise price for the stock options issued by Olema (OLMA)?

The exercise price is set at $2.85 per share.

What is Olema Pharmaceuticals focusing on in its research?

Olema Pharmaceuticals is focused on developing targeted therapies for women’s cancers, notably its lead candidate OP-1250.