Cytokinetics Announces Inducement Grants Under Nasdaq Listing Rule 5635(C)(4)

Rhea-AI Summary

Cytokinetics (Nasdaq: CYTK) announced inducement equity awards dated November 15, 2025 for new hires. The company granted options to purchase 87,297 RSUs (settled in shares) to Jeffrey Hessekiel, who began employment November 14, 2025, and granted options for an aggregate of 13,175 shares plus 8,881 RSUs to three additional employees who started in October–November 2025.

RSUs vest over 3 years (40%/40%/20%). Stock options have an exercise price of $66.44 (closing price on November 14, 2025), vest over 4 years with a one-year 1/4 cliff and monthly vesting thereafter, and a 10-year term. Awards were made under the 2004 Equity Incentive Plan in accordance with Nasdaq Rule 5635(c)(4).

SOUTH SAN FRANCISCO, Calif., Nov. 18, 2025 (GLOBE NEWSWIRE) -- Cytokinetics, Incorporated (Nasdaq: CYTK) today announced that on November 15, 2025 it granted stock options to purchase 87,297 restricted stock units (RSUs) that will be settled in shares of common stock upon vesting to Jeffrey Hessekiel, the Company’s Executive Vice President, Chief Legal and Administrative Officer, whose employment commenced on November 14, 2025, as a material inducement to his employment.

The Company also granted stock options to purchase an aggregate of 13,175 shares of common stock and 8,881 RSUs that will be settled in shares of common stock upon vesting to an additional three employees whose employment commenced in October and November 2025 as a material inducement to their employment.

The RSUs will vest over 3 years, with 40% of the RSUs vesting on the first anniversary of the applicable grant date, an additional 40% of the RSUs vesting on the second anniversary of the grant date and the final 20% vesting on the third anniversary of the grant date, in each case, subject to each respective employee’s continued service with the Company. The stock options that were granted are subject to an exercise price of $66.44 per share, which is equal to the closing price of the Company’s common stock on November 14, 2025 and will vest over 4 years, with 1/4^th of the shares underlying the employee’s option vesting on the one-year anniversary of the grant date and the remaining shares thereafter vesting in monthly installments at a rate of 1/48^th of the shares underlying such stock options over the subsequent 36 months, subject to each respective employee’s continued service with the Company. The stock options have a 10-year term. These awards are subject to the terms and conditions of the Company's Amended and Restated 2004 Equity Incentive Plan and the applicable award agreements pursuant to which the awards were granted.

The stock options and RSUs were granted as material inducements to employment in accordance with Nasdaq Listing Rule 5635(c)(4).

About Cytokinetics

Cytokinetics is a specialty cardiovascular biopharmaceutical company, building on its over 25 years of pioneering scientific innovations in muscle biology, and advancing a pipeline of potential new medicines for patients suffering from diseases of cardiac muscle dysfunction. Cytokinetics is readying for potential regulatory approvals and commercialization of aficamten, a cardiac myosin inhibitor, following positive results from SEQUOIA-HCM, the pivotal Phase 3 clinical trial in patients with obstructive hypertrophic cardiomyopathy (HCM). Aficamten is also being evaluated in additional clinical trials enrolling patients with obstructive and non-obstructive HCM. In addition, Cytokinetics is developing omecamtiv mecarbil, a cardiac myosin activator, in patients with heart failure with severely reduced ejection fraction (HFrEF), ulacamten, a cardiac myosin inhibitor with a mechanism of action distinct from aficamten, for the potential treatment of heart failure with preserved ejection fraction (HFpEF) and CK-089, a fast skeletal muscle troponin activator with potential therapeutic application to a specific type of muscular dystrophy and other conditions of impaired skeletal muscle function.

For additional information about Cytokinetics, visit www.cytokinetics.com and follow us on X, LinkedIn, Facebook and YouTube.

Disclaimer

Aficamten, omecamtiv mecarbil, ulacamten and CK-089 are investigational medicines. They have not been approved nor determined to be safe or efficacious for any disease state or any indication by FDA or any other regulatory agency.

Forward-Looking Statements

This press release contains forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995 (the "Act"). Cytokinetics disclaims any intent or obligation to update these forward-looking statements and claims the protection of the Act's Safe Harbor for forward-looking statements. Examples of such statements include, but are not limited to, statements relating to Cytokinetics' and its partners' research and development activities of Cytokinetics’ product candidates. Such statements are based on management's current expectations, but actual results may differ materially due to various risks and uncertainties, including, but not limited to the risks related to Cytokinetics' business outlined in Cytokinetics' filings with the Securities and Exchange Commission particularly under the caption “Risk Factors” in Cytokinetics’ latest Annual Report on Form 10-K. Forward-looking statements are not guarantees of future performance, and Cytokinetics' actual results of operations, financial condition and liquidity, and the development of the industry in which it operates, may differ materially from the forward-looking statements contained in this press release. Any forward-looking statements that Cytokinetics makes in this press release speak only as of the date of this press release. Cytokinetics assumes no obligation to update its forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press release.

CYTOKINETICS® and the CYTOKINETICS and C-shaped logo are registered trademarks of Cytokinetics in the U.S. and certain other countries.

Contact:
Cytokinetics
Diane Weiser
Senior Vice President, Corporate Affairs
(415) 290-7757

FAQ

What inducement grants did Cytokinetics (CYTK) announce on November 18, 2025?

Cytokinetics announced grants made November 15, 2025 of RSUs and stock options to new hires, including 87,297 RSUs to Jeffrey Hessekiel and additional awards to three employees.

How do the RSUs granted by CYTK vest and when do they fully vest?

The RSUs vest over 3 years: 40% on year 1, 40% on year 2 and 20% on year 3, subject to continued service.

What are the strike price and term for the CYTK stock options granted in November 2025?

The stock options have an exercise price of $66.44 (closing price on November 14, 2025) and a 10-year term.

What is the vesting schedule for the stock options granted by Cytokinetics (CYTK)?

Options vest over 4 years with 1/4 of shares vesting on the one-year anniversary and the remainder vesting monthly over the next 36 months.

Were the CYTK awards granted under a company equity plan and which Nasdaq rule was cited?

Yes; the awards are subject to the Amended and Restated 2004 Equity Incentive Plan and were granted as inducements under Nasdaq Listing Rule 5635(c)(4).

Who received the largest inducement award from Cytokinetics in November 2025?

Jeffrey Hessekiel received the largest disclosed award: 87,297 RSUs that will settle in shares upon vesting.