Olema Oncology Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Olema Pharmaceuticals, Inc. (Nasdaq: OLMA) announced on February 2, 2023, the grant of stock options to four new employees, totaling 97,200 shares of common stock. These options, part of the 2022 Inducement Plan, were approved by the Compensation Committee and are effective from February 1, 2023. The options will vest over four years, with an initial 25% vesting on the first anniversary and the remainder in equal monthly installments. The exercise price is set at $4.87 per share, matching the last reported sale price as of the grant date. Olema, focusing on targeted therapies for women’s cancers, is evaluating its lead candidate, OP-1250, in active clinical trials.
- Grant of stock options to four new employees, incentivizing talent acquisition.
- Stock options set at an exercise price of $4.87, equal to the last sale price, indicating alignment with current market value.
- Olema's lead candidate OP-1250 has received FDA Fast Track designation, enhancing its development prospects.
- None.
SAN FRANCISCO, Feb. 02, 2023 (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 97,200 shares of the Company's common stock, effective as of February 1, 2023. 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 February 1, 2023, 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
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
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