An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Puma Biotechnology Reports Inducement Awards Under Nasdaq Listing Rule 5635(c)(4)
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
Puma Biotechnology, Inc. (NASDAQ: PBYI) announced on August 3, 2022, that its Compensation Committee approved inducement restricted stock unit awards for six new non-executive employees, covering 37,250 shares. These awards, granted under the 2017 Employment Inducement Incentive Award Plan, will vest over three years, with one-third vesting on the first anniversary of August 1, 2022, and one-sixth every subsequent six months, contingent on continued service. This grant is in compliance with Nasdaq Listing Rule 5635(c)(4).
Positive
Inducement awards granted to new employees may enhance talent acquisition.
Awards cover 37,250 shares, a significant number indicating commitment to new staff.
Negative
None.
LOS ANGELES--(BUSINESS WIRE)--
Puma Biotechnology, Inc. (NASDAQ: PBYI), a biopharmaceutical company, announced that on August 3, 2022, the Compensation Committee of Puma’s Board of Directors approved the grant of inducement restricted stock unit awards covering 37,250 shares of Puma common stock to six new non-executive employees.
The awards were granted under Puma’s 2017 Employment Inducement Incentive Award Plan, which was adopted on April 27, 2017 and provides for the granting of equity awards to new employees of Puma. The restricted stock unit awards vest over a three-year period, with one-third of the shares underlying each award vesting on the first anniversary of the award’s vesting commencement date, August 1, 2022, and one-sixth of the shares underlying each award vesting on each six-month anniversary of the vesting commencement date thereafter, subject to continued service. The awards were granted as an inducement material to the new employees entering into employment with Puma, in accordance with Nasdaq Listing Rule 5635(c)(4).
About Puma Biotechnology
Puma Biotechnology, Inc. is a biopharmaceutical company with a focus on the development and commercialization of innovative products to enhance cancer care. Puma in-licenses the global development and commercialization rights to PB272 (neratinib, oral), PB272 (neratinib, intravenous) and PB357. Neratinib, oral was approved by the U.S. Food and Drug Administration in 2017 for the extended adjuvant treatment of adult patients with early stage HER2-overexpressed/amplified breast cancer, following adjuvant trastuzumab-based therapy, and is marketed in the United States as NERLYNX® (neratinib) tablets. In February 2020, NERLYNX was also approved by the FDA in combination with capecitabine for the treatment of adult patients with advanced or metastatic HER2-positive breast cancer who have received two or more prior anti-HER2-based regimens in the metastatic setting. NERLYNX was granted marketing authorization by the European Commission in 2018 for the extended adjuvant treatment of adult patients with early stage hormone receptor-positive HER2-overexpressed/amplified breast cancer and who are less than one year from completion of prior adjuvant trastuzumab-based therapy. NERLYNX is a registered trademark of Puma Biotechnology, Inc.
What are the new stock awards approved by Puma Biotechnology on August 3, 2022?
On August 3, 2022, Puma Biotechnology approved inducement awards covering 37,250 shares for six new non-executive employees, vesting over three years.
What is the vesting schedule for the restricted stock units issued by Puma Biotechnology?
The restricted stock units vest over a three-year period, with one-third vesting on the first anniversary and one-sixth on each subsequent six-month anniversary.
Under which plan were the stock awards granted by Puma Biotechnology?
The awards were granted under Puma Biotechnology's 2017 Employment Inducement Incentive Award Plan.
What is the significance of the inducement stock awards for Puma Biotechnology?
The inducement stock awards aim to attract and retain talent by providing equity compensation to new employees.
