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

Rhea-AI Summary

Cytokinetics (Nasdaq: CYTK) announced on October 17, 2025 that on October 15, 2025 it granted inducement equity awards to 83 new employees who began in September and October 2025.

The grants consist of 109,120 stock options and 73,535 RSUs. Options carry a $62.80 exercise price (the October 15, 2025 closing price) and a 10‑year term. RSUs vest over 3 years (40%/40%/20% on years 1/2/3). Options vest over 4 years (25% at year 1, then monthly over 36 months), all subject to continued service and the company's equity plan. Awards were granted as material inducements under Nasdaq Listing Rule 5635(c)(4).

SOUTH SAN FRANCISCO, Calif., Oct. 17, 2025 (GLOBE NEWSWIRE) -- Cytokinetics, Incorporated (Nasdaq: CYTK) today announced that on October 15, 2025 it granted stock options to purchase an aggregate of 109,120 shares of common stock and 73,535 restricted stock units (RSUs) that will be settled in shares of common stock upon vesting to 83 employees, whose employment commenced in September and October 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 $62.80 per share, which is equal to the closing price of the Company’s common stock on October 15, 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 equity awards did Cytokinetics (CYTK) grant on October 15, 2025?

Cytokinetics granted 109,120 stock options and 73,535 RSUs to 83 new employees on October 15, 2025.

What is the exercise price and term of the CYTK options granted October 15, 2025?

The options have an exercise price of $62.80 (closing price on October 15, 2025) and a 10‑year term.

How do the RSUs and options granted by CYTK vest?

RSUs vest over 3 years (40%/40%/20% on anniversaries). Options vest over 4 years (25% at year 1, then monthly over 36 months).

Why did Cytokinetics grant these awards under Nasdaq Listing Rule 5635(c)(4)?

The awards were granted as material inducements to the employment of new hires in accordance with Nasdaq Listing Rule 5635(c)(4).

How many employees received inducement awards from CYTK in October 2025?

83 employees whose employment commenced in September and October 2025 received the inducement awards.