ORIC® Pharmaceuticals Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4)
ORIC Pharmaceuticals announced the granting of inducement equity awards to two new non-executive employees who joined in October 2024. The grants include 61,800 non-qualified stock options and 10,400 restricted stock units. The stock options will vest 25% after one year, with remaining shares vesting monthly over three years. The restricted stock units will vest one-third annually over three years. These grants were made under the company's 2022 Inducement Equity Incentive Plan and approved by the Compensation Committee in accordance with Nasdaq Rule 5635(c)(4).
ORIC Pharmaceuticals ha annunciato l'assegnazione di premi in azioni incentivanti a due nuovi dipendenti non esecutivi che si sono uniti nell'ottobre 2024. I premi includono 61.800 opzioni su azioni non qualificate e 10.400 unità di azioni vincolate. Le opzioni su azioni matureranno del 25% dopo un anno, con le restanti azioni che matureranno mensilmente per tre anni. Le unità di azioni vincolate matureranno un terzo annualmente per tre anni. Questi premi sono stati concessi nell'ambito del Piano di Incentivo Azionario 2022 della società e approvati dal Comitato per la Remunerazione in conformità con la Regola 5635(c)(4) di Nasdaq.
ORIC Pharmaceuticals anunció la concesión de premios de acciones por inducción a dos nuevos empleados no ejecutivos que se unieron en octubre de 2024. Las concesiones incluyen 61,800 opciones sobre acciones no calificadas y 10,400 unidades de acciones restringidas. Las opciones sobre acciones se adquirirán en un 25% después de un año, y las acciones restantes se adquirirán mensualmente durante tres años. Las unidades de acciones restringidas se adquirirán un tercio anualmente durante tres años. Estas concesiones se realizaron bajo el Plan de Incentivo de Capital por Inducción de 2022 de la compañía y fueron aprobadas por el Comité de Compensación de acuerdo con la Regla 5635(c)(4) de Nasdaq.
ORIC Pharmaceuticals는 2024년 10월에 합류한 두 명의 비상임 직원에게 유인 주식 수당을 부여했다고 발표했습니다. 이 수당에는 61,800개의 비자격 주식 옵션과 10,400개의 제한 주식 단위가 포함됩니다. 주식 옵션은 1년 후 25%가 수익으로 인정되며, 나머지 주식은 3년에 걸쳐 매달 수익으로 인정됩니다. 제한 주식 단위는 3년 동안 매년 1/3이 수익으로 인정됩니다. 이 수당은 회사의 2022 유인 자본 인센티브 계획에 따라 이루어졌으며, Nasdaq 규칙 5635(c)(4)에 따라 보상위원회의 승인을 받았습니다.
ORIC Pharmaceuticals a annoncé l'octroi de récompenses en actions d'incitation à deux nouveaux employés non exécutifs qui ont rejoint en octobre 2024. Les récompenses comprennent 61 800 options d'achat d'actions non qualifiées et 10 400 unités d'actions restreintes. Les options d'achat d'actions vont acquérir 25 % après un an, les actions restantes seront acquises mensuellement pendant trois ans. Les unités d'actions restreintes vont acquérir un tiers annuellement pendant trois ans. Ces récompenses ont été accordées dans le cadre du Plan d'incitation au capital 2022 de l'entreprise et ont été approuvées par le Comité de rémunération conformément à la règle 5635(c)(4) de Nasdaq.
ORIC Pharmaceuticals gab die Gewährung von Anreiz-Aktienvergütungen an zwei neue nicht-executive Mitarbeiter bekannt, die im Oktober 2024 einstiegen. Die Vergaben umfassen 61.800 nicht qualifizierte Aktienoptionen und 10.400 eingeschränkte Aktieneinheiten. Die Aktienoptionen werden zu 25 % nach einem Jahr fällig, während die verbleibenden Aktien über drei Jahre monatlich fällig werden. Die eingeschränkten Aktieneinheiten werden über drei Jahre jährlich zu einem Drittel fällig. Diese Vergaben wurden im Rahmen des Aktienanreizplans 2022 des Unternehmens vorgenommen und vom Vergütungsausschuss gemäß der Nasdaq-Regel 5635(c)(4) genehmigt.
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SOUTH SAN FRANCISCO, Calif. and SAN DIEGO, Nov. 01, 2024 (GLOBE NEWSWIRE) -- ORIC Pharmaceuticals, Inc. (Nasdaq:ORIC), a clinical stage oncology company focused on developing treatments that address mechanisms of therapeutic resistance, today announced that on November 1, 2024 (the “Grant Date”), ORIC granted a total of 61,800 non-qualified stock options and 10,400 restricted stock units to two new non-executive employees who began their employment with ORIC in October 2024.
These inducement grants were granted pursuant to the ORIC Pharmaceuticals, Inc. 2022 Inducement Equity Incentive Plan, subject to recipient’s continued employment or service through each applicable vesting date. The stock options have an exercise price equal to the closing price of ORIC’s common stock on the Grant Date. Twenty-five percent (
The inducement grants were approved by ORIC’s Compensation Committee of the Board of Directors, as required by Nasdaq Rule 5635(c)(4), and were granted as a material inducement to employment in accordance with Nasdaq Rule 5635(c)(4).
About ORIC Pharmaceuticals, Inc.
ORIC Pharmaceuticals is a clinical stage biopharmaceutical company dedicated to improving patients’ lives by Overcoming Resistance In Cancer. ORIC’s clinical stage product candidates include (1) ORIC-114, a brain penetrant inhibitor that selectively targets EGFR exon 20, HER2 exon 20 and EGFR atypical mutations, being developed across multiple genetically defined cancers, (2) ORIC-944, an allosteric inhibitor of the polycomb repressive complex 2 (PRC2) via the EED subunit, being developed for prostate cancer, and (3) ORIC-533, an orally bioavailable small molecule inhibitor of CD73, a key node in the adenosine pathway believed to play a central role in resistance to chemotherapy- and immunotherapy-based treatment regimens, being developed for multiple myeloma. Beyond these three product candidates, ORIC® is also developing multiple precision medicines targeting other hallmark cancer resistance mechanisms. ORIC has offices in South San Francisco and San Diego, California. For more information, please go to www.oricpharma.com, and follow us on X or LinkedIn.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements as that term is defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release that are not purely historical are forward-looking statements. Such forward-looking statements include, among other things, statements regarding the vesting of the inducement grants; target indications for ORIC’s product candidates; the potential advantages of ORIC’s product candidates; and plans underlying ORIC’s clinical trials and development. Words such as “believes,” “anticipates,” “plans,” “expects,” “intends,” “will,” “goal,” “potential” and similar expressions are intended to identify forward-looking statements. The forward-looking statements contained herein are based upon ORIC’s current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results could differ materially from those projected in any forward-looking statements due to numerous risks and uncertainties, including but not limited to: risks associated with the process of discovering, developing and commercializing drugs that are safe and effective for use as human therapeutics and operating as an early clinical stage company; ORIC’s ability to develop, initiate or complete preclinical studies and clinical trials for, obtain approvals for and commercialize any of its product candidates; changes in ORIC’s plans to develop and commercialize its product candidates; the potential for clinical trials of ORIC’s product candidates to differ from preclinical, initial, interim, preliminary or expected results; negative impacts of health emergencies, economic instability or international conflicts on ORIC’s operations, including clinical trials; the risk of the occurrence of any event, change or other circumstance that could give rise to the termination of ORIC’s license and collaboration agreements; the potential market for our product candidates, and the progress and success of competing therapeutics currently available or in development; ORIC’s ability to raise any additional funding it will need to continue to pursue its business and product development plans; regulatory developments in the United States and foreign countries; ORIC’s reliance on third parties, including contract manufacturers and contract research organizations; ORIC’s ability to obtain and maintain intellectual property protection for its product candidates; the loss of key scientific or management personnel; competition in the industry in which ORIC operates; general economic and market conditions; and other risks. Information regarding the foregoing and additional risks may be found in the section titled “Risk Factors” in ORIC’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (the “SEC”) on August 12, 2024, and ORIC’s future reports to be filed with the SEC. These forward-looking statements are made as of the date of this press release, and ORIC assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law.
Contact:
Dominic Piscitelli, Chief Financial Officer
dominic.piscitelli@oricpharma.com
info@oricpharma.com
FAQ
How many stock options and RSUs did ORIC Pharmaceuticals grant on November 1, 2024?
What is the vesting schedule for ORIC's November 2024 stock option grants?
How do the restricted stock units (RSUs) vest in ORIC's November 2024 inducement grants?
