Summit Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Summit Therapeutics (NASDAQ: SMMT) has announced the grant of inducement awards to 14 new employees. The awards consist of options to purchase a total of 453,250 shares of common stock. These options, approved by the Company's Compensation Committee, were granted on August 7, 2024, in accordance with Nasdaq Listing Rule 5635(c)(4).
The options have a ten-year term and an exercise price of $9.40 per share, which was the closing price of Summit's common stock on the grant date. The options will vest in equal annual installments over four years and are subject to the terms of a stock option agreement to be executed by each recipient.
Summit Therapeutics (NASDAQ: SMMT) ha annunciato l'assegnazione di premi di indennità a 14 nuovi dipendenti. I premi consistono in opzioni per acquistare un totale di 453.250 azioni di azioni ordinarie. Queste opzioni, approvate dal Comitato per la Compensazione dell'Azienda, sono state concesse il 7 agosto 2024, in conformità con la Regola di Listing 5635(c)(4) di Nasdaq.
Le opzioni hanno un termine di dieci anni e un prezzo di esercizio di 9,40 USD per azione, che corrisponde al prezzo di chiusura delle azioni ordinarie di Summit nella data di concessione. Le opzioni matureranno in rate annuali uguali per quattro anni e sono soggette ai termini di un accordo di opzione su azioni che ciascun destinatario dovrà firmare.
Summit Therapeutics (NASDAQ: SMMT) ha anunciado la concesión de premios de inducción a 14 nuevos empleados. Los premios consisten en opciones para comprar un total de 453,250 acciones de acciones comunes. Estas opciones, aprobadas por el Comité de Compensación de la Compañía, fueron otorgadas el 7 de agosto de 2024, de acuerdo con la Regla de Listado 5635(c)(4) de Nasdaq.
Las opciones tienen un plazo de diez años y un precio de ejercicio de 9,40 USD por acción, que fue el precio de cierre de las acciones comunes de Summit en la fecha de concesión. Las opciones se consolidarán en cuotas anuales iguales durante cuatro años y están sujetas a los términos de un acuerdo de opción de acciones que cada destinatario deberá firmar.
Summit Therapeutics (NASDAQ: SMMT)는 14명의 신규 직원에게 유인 보상을 줄 것이라고 발표했습니다. 이 보상은 총 453,250주의 보통주를 구매할 수 있는 옵션으로 구성됩니다. 이 옵션은 회사 보상 위원회에 의해 승인되었으며, 2024년 8월 7일에 부여되었으며, 나스닥 상장 규칙 5635(c)(4)에 따라 이루어졌습니다.
옵션의 유효 기간은 10년이며, 행사 가격은 주당 9.40달러입니다. 이는 부여일 당시에 Summit의 보통주 종가와 일치합니다. 옵션은 4년에 걸쳐 연간 동일 부분씩 권리가 발생하며, 각 수혜자가 서명해야 할 주식 옵션 계약의 조건에 따릅니다.
Summit Therapeutics (NASDAQ: SMMT) a annoncé l'octroi de primes d'incitation à 14 nouveaux employés. Les primes consistent en des options d'achat d'un total de 453 250 actions ordinaires. Ces options, approuvées par le Comité de Rémunération de la Société, ont été accordées le 7 août 2024, conformément à la Règle d'Inscription 5635(c)(4) de Nasdaq.
Les options ont une durée de dix ans et un prix d'exercice de 9,40 USD par action, qui correspond au prix de clôture des actions ordinaires de Summit à la date de l'octroi. Les options seront acquises en versements annuels égaux sur quatre ans et sont soumises aux termes d'un contrat d'options d'achat d'actions qui devra être signé par chaque bénéficiaire.
Summit Therapeutics (NASDAQ: SMMT) hat die Gewährung von Anreizprämien an 14 neue Mitarbeiter angekündigt. Die Prämien bestehen aus Optionen zum Kauf von insgesamt 453.250 Aktien des Stammkapitals. Diese Optionen, die vom Vergütungsausschuss des Unternehmens genehmigt wurden, wurden am 7. August 2024 gewährt, in Übereinstimmung mit der Nasdaq-Listing-Regel 5635(c)(4).
Die Optionen haben eine Laufzeit von zehn Jahren und einen Ausübungspreis von 9,40 USD pro Aktie, der dem Schlusskurs der Stammaktien von Summit am Tag der Gewährung entspricht. Die Optionen werden in vier jährlichen Raten über vier Jahre fällig und unterliegen den Bedingungen eines von jedem Empfänger zu unterzeichnenden Optionsvertrags.
- Attraction of new talent with 14 new employees joining the company
- Alignment of employee interests with shareholders through stock options
- Potential dilution of existing shareholders due to the issuance of 453,250 new stock options
The options awarded to the recipients are subject to vesting in equal annual installments over a four-year period. The options awarded are subject to the terms of a stock option agreement to be executed by the recipient of the grant.
About Summit Therapeutics
Summit Therapeutics Inc. is a biopharmaceutical oncology company focused on the discovery, development, and commercialization of patient-, physician-, caregiver- and societal-friendly medicinal therapies intended to improve quality of life, increase potential duration of life, and resolve serious unmet medical needs.
Summit was founded in 2003 and our shares are listed on the Nasdaq Global Market (symbol "SMMT"). We are headquartered in
For more information, please visit https://www.smmttx.com and follow us on X @SMMT_TX.
Summit Forward-looking Statements
Any statements in this press release about the Company’s future expectations, plans and prospects, including but not limited to, statements about the clinical and preclinical development of the Company’s product candidates, entry into and actions related to the Company’s partnership with Akeso Inc., including the expected benefits of the amendment to the collaboration and license agreement, the intended use of the net proceeds from the private placement, the Company's anticipated spending and cash runway, the therapeutic potential of the Company’s product candidates, the potential commercialization of the Company’s product candidates, the timing of initiation, completion and availability of data from clinical trials, the potential submission of applications for marketing approvals, potential acquisitions, statements about the previously disclosed At-The-Market equity offering program (“ATM Program”), the expected use proceeds and uses thereof, and other statements containing the words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "would," and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including the Company’s ability to sell shares of our common stock under the ATM Program, the conditions affecting the capital markets, general economic, industry, or political conditions, including the results of our evaluation of the underlying data in connection with the development and commercialization activities for ivonescimab, the outcome of discussions with regulatory authorities, including the Food and Drug Administration, the uncertainties inherent in the initiation of future clinical trials, availability and timing of data from ongoing and future clinical trials, the results of such trials, and their success, and global public health crises, that may affect timing and status of our clinical trials and operations, whether preliminary results from a clinical trial will be predictive of the final results of that trial or whether results of early clinical trials or preclinical studies will be indicative of the results of later clinical trials, whether business development opportunities to expand the Company’s pipeline of drug candidates, including without limitation, through potential acquisitions of, and/or collaborations with, other entities occur, expectations for regulatory approvals, laws and regulations affecting government contracts and funding awards, availability of funding sufficient for the Company’s foreseeable and unforeseeable operating expenses and capital expenditure requirements and other factors discussed in the "Risk Factors" section of filings that the Company makes with the Securities and Exchange Commission. Any change to our ongoing trials could cause delays, affect our future expenses, and add uncertainty to our commercialization efforts, as well as to affect the likelihood of the successful completion of clinical development of ivonescimab. Accordingly, readers should not place undue reliance on forward-looking statements or information. In addition, any forward-looking statements included in this press release represent the Company’s views only as of the date of this release and should not be relied upon as representing the Company’s views as of any subsequent date. The Company specifically disclaims any obligation to update any forward-looking statements included in this press release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240809476051/en/
Contact Summit Investor Relations:
Dave Gancarz
Chief Business & Strategy Officer
Nathan LiaBraaten
Senior Director, Investor Relations
Source: Summit Therapeutics Inc.
FAQ
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How many new employees received inducement awards from Summit Therapeutics (SMMT) as announced on August 7, 2024?
