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

Rhea-AI Summary

Olema Pharmaceuticals, Inc. (Nasdaq: OLMA) announced the grant of stock options to a new employee for 70,000 shares, effective August 1, 2022. This award, approved by the Compensation Committee, is part of the 2022 Inducement Plan. The options vest over four years, starting with 25% on the first anniversary and the rest in monthly installments. The exercise price is $4.95 per share, matching the stock's last reported sale price. Olema focuses on targeted therapies for women’s cancers, with its lead product, OP-1250, currently in clinical trials for ER-positive breast cancer.

Positive

• Grant of stock options for 70,000 shares may attract and retain talent.
• Stock options are tied to a strategic inducement plan, aligning employee interests with shareholder value.

Negative

• None.

SAN FRANCISCO, Aug. 03, 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 one new employee to purchase 70,000 shares of the Company's common stock, effective as of August 1, 2022. This award was 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 August 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 $4.95 per share, equal to the last reported sale price of the Company's common stock as reported by Nasdaq on August 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 an orally available small molecule with combined activity as both a complete estrogen receptor (ER) antagonist (CERAN) and a selective ER degrader (SERD). It is currently being evaluated as a single agent in an ongoing Phase 1/2 clinical trial, and in Phase 1b combination with palbociclib, in patients with recurrent, locally advanced or metastatic ER-positive (ER+), human epidermal growth factor receptor 2-negative (HER2-) breast cancer. Olema is headquartered in San Francisco and has operations in Cambridge, Massachusetts.

FAQ

What is the stock option grant by Olema Pharmaceuticals?

Olema granted stock options to purchase 70,000 shares, effective August 1, 2022, as part of its 2022 Inducement Plan.

What is the exercise price for the new stock options at Olema?

The exercise price for the new stock options is $4.95 per share.

How are the stock options at Olema Pharmaceuticals structured?

The stock options vest over four years, with 25% vesting on the first anniversary and the rest in 36 equal monthly installments.

What is the main focus area of Olema Pharmaceuticals?

Olema Pharmaceuticals focuses on developing targeted therapies for women’s cancers.

Is Olema Pharmaceuticals involved in clinical trials?

Yes, Olema's lead product candidate, OP-1250, is currently being evaluated in clinical trials for breast cancer.