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

Rhea-AI Summary

Syndax Pharmaceuticals (SNDX) grants inducement awards to new employees, offering stock options to purchase up to 42,800 shares of common stock. The options will vest over four years, with a gradual monthly vesting schedule, subject to continued employment with Syndax.

WALTHAM, Mass., March 1, 2024 /PRNewswire/ -- Syndax Pharmaceuticals (Nasdaq: SNDX), a clinical-stage biopharmaceutical company developing an innovative pipeline of cancer therapies, today announced that on March 1, 2024 the Company granted inducement awards to purchase up to 42,800 shares of common stock to three 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

What did Syndax Pharmaceuticals announce on March 1, 2024?

Syndax Pharmaceuticals announced the granting of inducement awards to three new employees under the 2023 Inducement Plan.

How many shares of common stock can the new employees purchase?

The new employees can purchase up to 42,800 shares of common stock.

What is the vesting schedule for the stock options?

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.

What is required for the stock options to vest?

The stock options vesting is subject to the employee's continued service relationship with Syndax through the applicable vesting dates.