Syndax Pharmaceuticals Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)

Rhea-AI Summary

Syndax Pharmaceuticals granted inducement awards to six new employees to purchase up to 100,600 shares of common stock under the 2023 Inducement Plan. The stock options will vest over four years, with gradual vesting conditions tied to the employees' continued service relationship.

WALTHAM, Mass., May 3, 2024 /PRNewswire/ -- Syndax Pharmaceuticals (Nasdaq: SNDX), a clinical-stage biopharmaceutical company developing an innovative pipeline of cancer therapies, today announced that on May 1, 2024 the Company granted inducement awards to purchase up to 100,600 shares of common stock to six new employees under the Company's 2023 Inducement Plan. The stock options will vest over four years, with 25% of the underlying shares vesting on the one-year anniversary of the vesting commencement date and 1/48th of the underlying shares vesting monthly thereafter over 36 months, subject to the employee's continued service relationship with Syndax through the applicable vesting dates.

About Syndax

Syndax is a clinical stage biopharmaceutical company developing an innovative pipeline of cancer therapies. Highlights of the Company's pipeline include revumenib, a highly selective inhibitor of the Menin–KMT2A binding interaction, and axatilimab, a monoclonal antibody that blocks the colony stimulating factor 1 (CSF-1) receptor. For more information, please visit www.syndax.com or follow the Company on X (formerly Twitter) and LinkedIn.

Syndax Contact

Sharon Klahre 
Syndax Pharmaceuticals, Inc. 
sklahre@syndax.com 
Tel 781.684.9827 

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SOURCE Syndax Pharmaceuticals, Inc.

FAQ

How many shares of common stock were granted to new employees by Syndax Pharmaceuticals?

Syndax Pharmaceuticals granted up to 100,600 shares of common stock to six new employees.

What is the vesting schedule for the stock options granted by Syndax Pharmaceuticals?

The stock options will vest over four years, with 25% of the shares vesting on the one-year anniversary and the rest vesting monthly over 36 months, subject to the employee's service relationship.

Under which plan were the inducement awards granted by Syndax Pharmaceuticals?

The inducement awards were granted under the Company's 2023 Inducement Plan by Syndax Pharmaceuticals.

What is the stock symbol for Syndax Pharmaceuticals?

The stock symbol for Syndax Pharmaceuticals is SNDX.