Sierra Oncology Announces Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)

Rhea-AI Summary

Sierra Oncology, Inc. (SRRA) has granted stock options to three new employees under its 2018 Equity Inducement Plan, as approved by the Compensation Committee. The total options granted amount to 23,250 shares, with an exercise price of $18.05 per share, equal to the closing price on the grant date. The options will vest 25% on the first anniversary of employment, followed by 75% in 36 equal monthly installments, contingent on the employees' continued employment. This initiative emphasizes Sierra's strategic approach to attract talent as it focuses on targeted cancer therapies.

Positive

• Grant of stock options signifies recruitment efforts aimed at strengthening the workforce.
• Use of the 2018 Equity Inducement Plan highlights commitment to attract talent in the biopharmaceutical industry.

Negative

• None.

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 three 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 23,250 shares of Sierra’s common stock. The options have an exercise price of $18.05 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.

For more information, visit www.SierraOncology.com.

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FAQ

What is the recent stock option grant by Sierra Oncology (SRRA)?

Sierra Oncology granted stock options to three new employees totaling 23,250 shares at an exercise price of $18.05 per share.

When will the stock options granted by Sierra Oncology (SRRA) vest?

The stock options will vest 25% on the first anniversary of the employee's start date and the remaining 75% in 36 equal monthly installments.

What is the purpose of Sierra Oncology's 2018 Equity Inducement Plan?

The plan is designed to grant equity awards to attract individuals entering into employment with Sierra Oncology.

What is the exercise price of the stock options granted by Sierra Oncology (SRRA)?

The exercise price for the granted stock options is $18.05 per share, equal to the closing price on the grant date.