ALX Oncology Reports Inducement Grant as permitted by the Nasdaq Listing Rules

ALX Oncology (Nasdaq: ALXO) granted an inducement stock option to its new General Counsel, Michael Listgarten, under the 2025 Inducement Equity Incentive Plan, in line with Nasdaq Listing Rule 5635(c)(4).

Rhea-AI Summary

ALX Oncology (Nasdaq: ALXO) granted an inducement stock option to its new General Counsel, Michael Listgarten, under the 2025 Inducement Equity Incentive Plan, in line with Nasdaq Listing Rule 5635(c)(4).

The option covers 500,000 shares at a $2.20 exercise price and includes time-based vesting.

Argus Jul 1 session

-0.48% close to close Open Argus

Details

News Market Reaction – ALXO

On Jul 1, the first trading day after this news, ALXO closed 0.48% below the previous close.

Data tracked by StockTitan Argus for the Jul 1 session.

Key Figures

Inducement option size: 500,000 shares Option exercise price: $2.20 per share Initial vesting tranche: 25% of shares +1 more

Inducement option size

500,000 shares

Stock option grant to General Counsel on June 29, 2026

Option exercise price

$2.20 per share

Equal to ALXO closing price on the June 29, 2026 grant date

Initial vesting tranche

25% of shares

Vests on the one‑year anniversary of June 29, 2026

Ongoing vesting schedule

1/48 of shares monthly

After first anniversary, subject to continued service

Historical Context

5 past events · Latest: Jun 01

5 events

1. Jun 01

   Conference participation

   24h Move

   -5.3%

   Jefferies Global Healthcare Conference fireside chat announcement and webcast details.

2. May 08

   Earnings and update

   24h Move

   +11.2%

   Q1 2026 results, strong clinical updates and extended cash runway disclosure.

3. May 07

   Clinical data update

   24h Move

   -10.5%

   Promising Phase 1b/2 breast cancer data for evorpacept plus zanidatamab.

4. Apr 30

   Clinical data preview

   24h Move

   +7.6%

   Announcement of upcoming CD47 biomarker data presentation at ESMO Breast 2026.

5. Apr 17

   Inducement grant

   24h Move

   +4.8%

   Inducement stock option grant to a senior executive under Nasdaq Listing Rule 5635(c)(4).

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

inducement stock option, exercise price, nasdaq listing rule 5635(c)(4), equity incentive plan

4 terms

inducement stock option financial

"approved the granting of an inducement stock option to purchase a total of 500,000 shares"

An inducement stock option is a grant of the right to buy company shares given to a new or existing employee as a special hiring or retention incentive, similar to offering a signing bonus but paid in future stock. Investors care because these options can motivate managers to grow the business and align their interests with shareholders, while also increasing the total number of shares over time and potentially diluting existing ownership and earnings per share.

exercise price financial

"The inducement stock option has an exercise price of $2.20 per share"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

nasdaq listing rule 5635(c)(4) regulatory

"material to Mr. Listgarten to enter into employment with ALX Oncology in accordance with Nasdaq Listing Rule 5635(c)(4)."

NASDAQ Listing Rule 5635(c)(4) is a rule that requires a company to get approval from its shareholders before selling a large amount of its shares, usually over 20%. This helps protect investors by making sure the company doesn't flood the market with new shares without their say, which could lower the stock's value.

equity incentive plan financial

"subject to the terms of the ALX Oncology Holdings Inc. 2025 Inducement Equity Incentive Plan"

An equity incentive plan is a program that gives employees, executives or directors the right to receive company stock or options to buy stock as part of their pay. Think of it as offering slices of future company profit to motivate people to boost long‑term performance; for investors it matters because it can align employee goals with shareholder value but also increases the number of shares outstanding, which can dilute existing ownership.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

SOUTH SAN FRANCISCO, Calif., June 30, 2026 (GLOBE NEWSWIRE) -- ALX Oncology Holdings Inc. ("ALX Oncology," Nasdaq: ALXO), a clinical-stage biotechnology company advancing a pipeline of novel therapies designed to treat cancer and extend patients’ lives, announced that the Compensation Committee of the Board of Directors of ALX Oncology approved the granting of an inducement stock option to purchase a total of 500,000 shares of ALX Oncology’s common stock to Michael Listgarten, General Counsel, on June 29, 2026 in connection with the commencement of his employment. Mr. Listgarten’s inducement stock option is subject to the terms of the ALX Oncology Holdings Inc. 2025 Inducement Equity Incentive Plan and related forms of agreements, and was granted as an inducement material to Mr. Listgarten to enter into employment with ALX Oncology in accordance with Nasdaq Listing Rule 5635(c)(4).

The inducement stock option has an exercise price of $2.20 per share, which is equal to the closing price of a share of ALX Oncology common stock on the grant date, and vests as follows: 25% of the shares subject to such inducement stock option vests on the one year anniversary of June 29, 2026 and an additional one forty-eighth of the shares subject to such inducement stock option vests monthly thereafter, subject to the employee’s continued service.

About ALX Oncology
ALX Oncology (Nasdaq: ALXO) is a clinical-stage biotechnology company advancing a pipeline of novel therapies designed to treat cancer and extend patients’ lives. ALX Oncology’s lead therapeutic candidate, evorpacept, has demonstrated potential to serve as a cornerstone therapy upon which the future of immuno-oncology can be built. Evorpacept is currently being evaluated across multiple ongoing clinical trials in a wide range of cancer indications. ALX Oncology’s second pipeline candidate, ALX2004, is a novel EGFR-targeted antibody-drug conjugate with a differentiated mechanism of action. A Phase 1, dose-escalation trial of ALX2004 is ongoing in patients with EGFR-expressing solid tumors. More information is available at www.alxoncology.com and on LinkedIn @ALX Oncology.

Investor Relations Contact:
Kevin Lui
Director, Investor Relations
kevin.lui@precisionaq.com

Media Contact:
Genevieve Britton
Senior Director, Public Relations
genevieve.britton@precisionaq.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What inducement stock option did ALX Oncology (ALXO) grant on June 29, 2026?

ALX Oncology granted an inducement stock option for 500,000 common shares to its new General Counsel. According to ALX Oncology, the option was approved by the board’s Compensation Committee as a material inducement to employment under Nasdaq Listing Rule 5635(c)(4).

What is the exercise price of the new ALX Oncology (ALXO) inducement stock option?

The inducement stock option has an exercise price of $2.20 per share. According to ALX Oncology, this equals the closing price of its common stock on the June 29, 2026 grant date, aligning the award’s value with the market price at issuance.

How does the ALX Oncology (ALXO) inducement stock option vest for Michael Listgarten?

The option vests over four years, starting with 25% after one year. According to ALX Oncology, the remaining shares vest in equal monthly installments (one forty-eighth each month) thereafter, contingent on Mr. Listgarten’s continued service with the company.

Why did ALX Oncology (ALXO) use an inducement grant for its new General Counsel?

ALX Oncology used the inducement grant as a material incentive to attract Michael Listgarten. According to ALX Oncology, the grant was made outside shareholder-approved plans under Nasdaq Listing Rule 5635(c)(4), supporting recruitment of key leadership talent.

Under which plan was the ALX Oncology (ALXO) inducement stock option granted?

The inducement option was granted under the ALX Oncology 2025 Inducement Equity Incentive Plan. According to ALX Oncology, the award is governed by this plan and related agreements, which set the terms, conditions, and vesting for the stock option.