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Repare Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
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CAMBRIDGE, Mass. & MONTREAL--(BUSINESS WIRE)--
Repare Therapeutics Inc., (Nasdaq: RPTX), (“Repare”, or “the Company”), a leading clinical-stage precision oncology company, today announced that, in connection with the appointment of Daniel Belanger as the Company’s EVP, Human Resources, the Company granted Mr. Belanger an inducement stock option to purchase an aggregate of 240,000 of the Company’s common shares. The award was approved by the Compensation Committee of the Company’s Board of Directors and was granted outside of the Company’s 2020 Equity Incentive Plan, with a grant date of May 18, 2023, as an inducement material to Mr. Belanger entering into employment with Repare, in accordance with Nasdaq Listing Rule 5635(c)(4).
The stock option has a ten-year term and an exercise price of $9.83 per share, the average of the daily volume-weighted average trading prices for the Company’s common shares on each of the five trading days immediately preceding the grant date. The award will vest over four years, with 25% of the underlying shares vesting on the one-year anniversary of the applicable employment start date and the remaining underlying shares vesting in substantially equal monthly installments thereafter on the same day of the month as the vesting commencement date, subject to Mr. Belanger’s continued employment with Repare through the applicable vesting date. The stock option is subject to the terms of the stock option agreement pursuant to which the award was granted.
About Repare Therapeutics Inc.
Repare Therapeutics is a leading clinical-stage precision oncology company enabled by its proprietary synthetic lethality approach to the discovery and development of novel therapeutics. The Company utilizes its genome-wide, CRISPR-enabled SNIPRx® platform to systematically discover and develop highly targeted cancer therapies focused on genomic instability, including DNA damage repair. The Company’s pipeline includes RP-6306, a PKMYT1 inhibitor currently in Phase 1 clinical development; camonsertib (also known as RP-3500 or RG6526), a potential leading ATR inhibitor currently in Phase 1/2 clinical development and partnered with Roche; a preclinical Polθ inhibitor program; as well as several undisclosed preclinical programs, including RP-1664. For more information, please visit reparerx.com.
SNIPRx® is a registered trademark of Repare Therapeutics Inc.
