Epizyme Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Impact

(Low)

Rhea-AI Sentiment

(Very Positive)

Tags

04/06/2022 - 07:00 AM

CAMBRIDGE, Mass.--(BUSINESS WIRE)-- Epizyme (Nasdaq: EPZM), a fully integrated, commercial-stage biopharmaceutical company developing and delivering transformative therapies for cancer patients against novel epigenetic targets, today announced that the Company has granted equity awards to Jerald Korn, the Company’s Chief Operating Officer, with a grant date of April 1, 2022, as equity inducement awards outside of the Company’s 2013 Stock Incentive Plan and material to Mr. Korn’s acceptance of employment with the Company. The equity awards were approved in accordance with Nasdaq Listing Rule 5635(c)(4).

Mr. Korn received options to purchase an aggregate of 800,000 shares of Epizyme common stock. The options have an exercise price of $1.14 per share, which is equal to the closing price of Epizyme common stock on April 1, 2022, the grant date of the options. The options will vest as to 25% of the underlying shares on the first anniversary of the grant date and as to an additional 2.0833% of the shares at the end of each successive month following the first anniversary of the grant date, such that the shares underlying the options granted to Mr. Korn will be fully vested on the fourth anniversary of the grant date, subject to Mr. Korn’s continued employment with Epizyme on such vesting dates.

About Epizyme, Inc.

Epizyme, Inc. is a fully integrated, commercial-stage biopharmaceutical company committed to its mission of rewriting treatment for cancer through novel epigenetic medicines. The Company is focused on creating medicines that are targeted at specific causes of diseases, that are orally administered, tolerable, easy to take and based on a deep understanding of the patients that may benefit from them. The Company aspires to change the standard-of-care for patients and physicians by developing medicines with fundamentally new mechanisms of action. For more information, visit www.epizyme.com.