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 (SRRA), a late-stage biopharmaceutical company, has granted stock options to five new employees, totaling 40,700 shares. The options have an exercise price of $19.83 per share, matching the closing stock price on the grant date. The vesting schedule includes 25% after one year and the remainder in 36 monthly installments. This grant falls under the 2018 Equity Inducement Plan, aimed at attracting new talent to support its mission in developing targeted therapies for rare cancers.
Positive
Granting of stock options to employees enhances talent acquisition.
The exercise price matches the current market price, potentially aligning employee interests with shareholder value.
Negative
None.
SAN MATEO, Calif.--(BUSINESS WIRE)--
Sierra Oncology, Inc. (SRRA), a late-stage biopharmaceutical company on a mission to deliver targeted therapies that treat rare forms of cancer, granted stock options to five 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 in aggregate options to purchase a total 40,700 shares of Sierra’s common stock. The options have an exercise price of $19.83 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 the 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 agreements covering the grants.
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.
