Rigel Announces Inducement Grants under NASDAQ Listing Rule 5635(c)(4)

Rhea-AI Summary

Rigel Pharmaceuticals, Inc. grants stock options to employees, including Chief Medical Officer Lisa Rojkjaer, as an inducement for employment. The options vest over four years with a one-year cliff, and additional options are tied to future performance conditions.

SOUTH SAN FRANCISCO, Calif., April 10, 2024 /PRNewswire/ -- Rigel Pharmaceuticals, Inc. ("Rigel") (Nasdaq: RIGL) today announced that it has granted awards pursuant to Rigel's Inducement Plan, approved by the Compensation Committee of Rigel's Board of Directors and granted as an inducement material to employees' entering into employment with Rigel, in accordance with NASDAQ Listing Rule 5635(c)(4). Specifically, Rigel granted 407,325 stock options to nine non-executive employees on April 4, 2024, and 187,500 stock options to Lisa Rojkjaer, Rigel's Chief Medical Officer, on March 27, 2024, vesting over four years with a one-year cliff. Additionally, on March 27, 2024, Ms. Rojkjaer was granted 187,500 stock options to vest upon achievement of certain future performance conditions, subject to her continuous service to the Company on such vesting date.

Rigel is providing this information in accordance with NASDAQ Listing Rule 5635(c)(4).

About Rigel 
Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL) is a biotechnology company dedicated to discovering, developing and providing novel therapies that significantly improve the lives of patients with hematologic disorders and cancer. Founded in 1996, Rigel is based in South San Francisco, California. For more information on Rigel, the Company's marketed products and pipeline of potential products, visit www.rigel.com. 

Investors & Media Contacts
Investors:
Rigel Pharmaceuticals, Inc. 
650.624.1232
ir@rigel.com

Media:
David Rosen
Argot Partners
Phone: 212.600.1902
Email: david.rosen@argotpartners.com

 

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SOURCE Rigel Pharmaceuticals, Inc.

FAQ

How many stock options were granted by Rigel Pharmaceuticals, Inc.?

Rigel Pharmaceuticals, Inc. granted 407,325 stock options to nine non-executive employees on April 4, 2024, and 187,500 stock options to Lisa Rojkjaer, the Chief Medical Officer, on March 27, 2024.

What is the vesting period for the stock options granted by Rigel Pharmaceuticals, Inc.?

The stock options granted by Rigel Pharmaceuticals, Inc. vest over four years with a one-year cliff.

Who was granted stock options tied to future performance conditions by Rigel Pharmaceuticals, Inc.?

Lisa Rojkjaer, Rigel's Chief Medical Officer, was granted 187,500 stock options tied to future performance conditions on March 27, 2024.