An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Sierra Oncology Announces Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
Sierra Oncology, Inc. (NASDAQ: SRRA) has granted stock options to twelve new employees under its 2018 Equity Inducement Plan. A total of 96,200 shares were allocated, with an exercise price of $54.61 per share, matching the company's closing stock price on the grant date. The options will vest over four years, beginning with 25% after the first anniversary of employment. Sierra focuses on developing targeted therapies for rare cancers, leveraging its scientific expertise to innovate cancer treatments.
Positive
Granting of stock options can attract and retain talent, fostering innovation.
Equity inducement aligns employee interests with shareholder value.
Negative
None.
SAN MATEO, Calif.--(BUSINESS WIRE)--
Sierra Oncology, Inc. (NASDAQ: SRRA), a late-stage biopharmaceutical company dedicated to delivering targeted therapies for rare cancers, granted stock options to twelve new employees as approved by the Compensation Committee of the Company’s Board of Directors, under Sierra Oncology’s 2018 Equity Inducement Plan. The 2018 Equity Inducement Plan is used exclusively for the grant of equity awards to individuals as an inducement material to such individuals entering into employment with Sierra, pursuant to Rule 5635(c)(4) of the NASDAQ Listing Rules.
The employees received options to purchase a total 96,200 shares of Sierra’s common stock. The options have an exercise price of $54.61 per share, which is equal to the closing price of Sierra’s common stock on the date of grant. The options will vest and become exercisable as to 25% of the shares on the first anniversary of each recipient’s start date, and then will vest and become exercisable as to the remaining 75% of shares in 36 equal monthly installments following the first anniversary, subject to each employee’s continued employment with Sierra on such vesting dates. The options are subject to the terms and conditions of Sierra’s 2018 Equity Inducement Plan, and the terms and conditions of the stock option agreement covering each grant.
About Sierra Oncology
Sierra Oncology is a late-stage biopharmaceutical company on a mission to deliver targeted therapies that treat rare forms of cancer. We harness our deep scientific expertise to identify compounds that target the root cause of disease. Our team takes an evidence-based approach to understand the limitations of current treatments and explore new ways to change the cancer treatment paradigm. Together we are transforming promise into patient impact.
What is the purpose of the stock options granted by Sierra Oncology (NASDAQ: SRRA)?
The stock options are intended to attract and retain new employees as part of the company's 2018 Equity Inducement Plan.
What is the exercise price for the stock options granted to new employees of Sierra Oncology?
The exercise price for the stock options is $54.61 per share.
How many shares did Sierra Oncology grant in total for the stock options?
Sierra Oncology granted a total of 96,200 shares in stock options.
When will the stock options start to vest for employees?
The stock options will vest 25% on the first anniversary of each recipient's start date, with the remaining 75% vesting in equal monthly installments over three years.
What is the significance of the 2018 Equity Inducement Plan for Sierra Oncology?
The 2018 Equity Inducement Plan is designed to provide equity awards as an inducement to new employees, aligning their interests with the company's performance.
