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

Rhea-AI Summary

Olema Pharmaceuticals, Inc. (Nasdaq: OLMA) announced the granting of stock options for 68,700 shares to three new employees, effective May 2, 2022. The options were approved by the Compensation Committee and are part of the Company's 2022 Inducement Plan. They vest over four years, with an exercise price set at $2.68 per share, equal to the stock's last reported sale price. Olema focuses on targeted therapies for women’s cancers, with its lead candidate, OP-1250, currently in clinical trials for treating ER-positive breast cancer.

Positive

• Granting of stock options enhances employee retention and incentivizes performance.
• Stock option price aligns with the market price, protecting employee interests.
• Olema's focus on targeted therapies showcases potential growth in women's cancer treatment.

Negative

• None.

SAN FRANCISCO, May 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 three new employees to purchase an aggregate of 68,700 shares of the Company's common stock, effective as of May 2, 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 May 2, 2022, 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 vests 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 $2.68 per share, equal to the last reported sale price of the Company's common stock as reported by Nasdaq on May 2, 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 stock options did Olema Pharmaceuticals grant recently?

Olema Pharmaceuticals granted stock options for 68,700 shares to three new employees, effective May 2, 2022.

What is the exercise price of the stock options granted by Olema?

The exercise price for the stock options is $2.68 per share.

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

The stock options vest over four years, with 25% vesting after the first year and the remainder vesting monthly over the next three years.

Under which plan were the stock options granted by Olema?

The stock options were granted under the Company's 2022 Inducement Plan.

What is Olema Pharmaceuticals focused on in their research?

Olema Pharmaceuticals is dedicated to developing targeted therapies for women’s cancers, notably their lead candidate, OP-1250.