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

Rhea-AI Summary

Repare Therapeutics (Nasdaq: RPTX) has announced the granting of stock options to two new employees through its 2024 Inducement Plan. The Compensation Committee approved two separate grants:

1. A stock option granted on November 5, 2024, with an exercise price of $3.59 per share

2. A stock option granted on March 5, 2025, with an exercise price of $1.17 per share

The total aggregate amounts to 22,200 common shares. Both options have ten-year terms and will vest over four years, with 25% vesting after one year and the remainder vesting in monthly installments. These grants were made as employment inducements in compliance with Nasdaq Listing Rule 5635(c)(4).

Positive

• Stock options align new employee interests with shareholders

Negative

• 67% decline in stock price between November 2024 ($3.59) and March 2025 ($1.17)

CAMBRIDGE, Mass. & MONTREAL--(BUSINESS WIRE)-- Repare Therapeutics Inc. (“Repare” or the “Company”) (Nasdaq: RPTX), a clinical-stage precision oncology company, today announced that the Compensation Committee of the Company’s Board of Directors granted, on November 5, 2024 and March 5, 2025, stock options to purchase an aggregate of 22,200 of the Company’s common shares to two individuals pursuant to the Company's 2024 Inducement Plan. The 2024 Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously an employee, or non-employee director, of Repare, as an inducement material to such individual’s entering into employment with Repare, in accordance with Nasdaq Listing Rule 5635(c)(4). Repare is making this announcement as required by Nasdaq rules.

The stock option granted on November 5, 2024 has a ten-year term and an exercise price of $3.59 per share, which is equal to the closing sales price per share of the Company’s common shares on the Nasdaq Global Select Market on the grant date. The stock option granted on March 4, 2025 has a ten-year term and an exercise price of $1.17 per share, which is equal to the closing sales price per share of the Company’s common shares on the Nasdaq Global Select Market on the grant date. Each of the option awards will vest over four years, with 25% of the underlying shares vesting on the one-year anniversary of the respective vesting commencement date and the remaining underlying shares vesting in substantially equal monthly installments thereafter on the same day of the month as such vesting commencement date, subject to such individual’s continued employment with Repare through the applicable vesting date. The inducement stock options are subject to the terms of the stock option agreement pursuant to which the award was granted.

About Repare Therapeutics Inc.

Repare Therapeutics is a 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 clinical-stage pipeline includes RP-1664, a Phase 1 PLK4 inhibitor; RP-3467, a Phase 1 Polθ ATPase inhibitor; and lunresertib, a PKMYT1 inhibitor. For more information, please visit www.reparerx.com and follow @Reparerx on X (formerly Twitter) and LinkedIn.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250307234137/en/

Investor Relations & Media Contact:

Steve Forte

Executive Vice President and Chief Financial Officer

Repare Therapeutics Inc.

investor@reparerx.com

Source: Repare Therapeutics Inc.

FAQ

What are the key terms of RPTX's 2024 stock option grants?

The grants total 22,200 shares with 10-year terms, vesting over 4 years (25% after year 1, then monthly). Exercise prices are $3.59 (Nov 2024) and $1.17 (Mar 2025).

How does the vesting schedule work for RPTX's 2024 Inducement Plan options?

Options vest over 4 years: 25% vests on the first anniversary, with remaining shares vesting monthly thereafter, subject to continued employment.

What is the purpose of RPTX's 2024 Inducement Plan?

The plan is exclusively for granting equity awards to new employees as employment inducements, in accordance with Nasdaq Rule 5635(c)(4).

Why did RPTX's option exercise price decrease from $3.59 to $1.17 between grants?

The exercise prices reflect RPTX's closing share price on Nasdaq Global Select Market on respective grant dates, indicating a stock price decline.