Syros Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Syros Pharmaceuticals (NASDAQ: SYRS) announced the grant of restricted stock units (RSUs) for 48,400 shares to two new employees as an employment inducement per Nasdaq Listing Rule 5635(c)(4). The RSUs vest annually over four years, contingent on continued service. Syros is focused on gene expression control, advancing a clinical pipeline that includes tamibarotene for myelodysplastic syndrome, SY-2101 for acute promyelocytic leukemia, and SY-5609 for select solid tumors.

Positive

• Granting of RSUs to attract talent, enhancing workforce capabilities.

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• None.

CAMBRIDGE, Mass.--(BUSINESS WIRE)-- Syros Pharmaceuticals (Nasdaq: SYRS), a leader in the development of medicines that control the expression of genes, today announced the grant of restricted stock unit (RSU) awards for an aggregate of 48,400 shares of Syros common stock to two newly hired employees in connection with their commencement of employment with Syros. These RSUs were granted as material inducements to employment in accordance with Nasdaq Listing Rule 5635(c)(4).

The RSUs were granted on June 30, 2022, vest in equal annual installments over a period of four years, subject to the employee’s continued service with Syros, and are subject to the terms and conditions of a restricted stock unit agreement covering the award and Syros’ 2022 Inducement Stock Incentive Plan.

About Syros Pharmaceuticals

Syros is redefining the power of small molecules to control the expression of genes. Based on its unique ability to elucidate regulatory regions of the genome, Syros aims to develop medicines that provide a profound benefit for patients with diseases that have eluded other genomics-based approaches. Syros is advancing a robust clinical-stage pipeline, including: tamibarotene, a first-in-class oral selective RARα agonist in RARA-positive patients with higher-risk myelodysplastic syndrome and acute myeloid leukemia; SY-2101, a novel oral form of arsenic trioxide in patients with acute promyelocytic leukemia; and SY-5609, a highly selective and potent oral CDK7 inhibitor in patients with select solid tumors. Syros also has multiple preclinical and discovery programs in oncology and monogenic diseases. For more information, visit www.syros.com and follow us on Twitter (@SyrosPharma) and LinkedIn.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220701005063/en/

Media Contact

Courtney Solberg

Syros Pharmaceuticals

917-698-9253

csolberg@syros.com

Investor Contact

Hannah Deresiewicz

Stern Investor Relations, Inc.

212-362-1200

hannah.deresiewicz@sternir.com

Source: Syros Pharmaceuticals

FAQ

What is the recent RSU grant by Syros Pharmaceuticals for?

Syros Pharmaceuticals granted RSUs for an aggregate of 48,400 shares to attract two new employees.

When were the RSUs granted by Syros Pharmaceuticals?

The RSUs were granted on June 30, 2022.

How long is the vesting period for the RSUs at Syros Pharmaceuticals?

The RSUs vest in equal annual installments over four years.

What is the ticker symbol for Syros Pharmaceuticals?

The ticker symbol for Syros Pharmaceuticals is SYRS.

What is Syros Pharmaceuticals focused on?

Syros Pharmaceuticals is focused on developing medicines that control gene expression.