Fulcrum Therapeutics® Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Fulcrum Therapeutics (Nasdaq: FULC) announced the grant of an inducement award to newly appointed CFO Esther Rajavelu, approved by independent directors on January 3, 2022.
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Rhea-AI Summary
Fulcrum Therapeutics (Nasdaq: FULC) announced the grant of an inducement award to newly appointed CFO Esther Rajavelu, approved by independent directors on January 3, 2022. The award includes a nonstatutory option to purchase 200,000 shares at an exercise price of $17.82, equal to the closing stock price on the grant date. The option has a ten-year term with 25% vesting after one year and subsequent quarterly vesting over three years, contingent on continued service. Fulcrum focuses on rare genetic diseases with lead programs targeting facioscapulohumeral muscular dystrophy and sickle cell disease.
Positive
- Inducement grant approved for new CFO, enhancing leadership potential.
- Stock options align CFO's interests with shareholder value.
Negative
- None.
Details
News Market Reaction – FULC
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CAMBRIDGE, Mass., Jan. 07, 2022 (GLOBE NEWSWIRE) -- Fulcrum Therapeutics, Inc. (Nasdaq: FULC), a clinical-stage biopharmaceutical company focused on improving the lives of patients with genetically defined rare diseases, today announced the grant of an inducement award outside of the Company’s 2019 Stock Incentive Plan to Esther Rajavelu, the Company’s newly appointed Chief Financial Officer. The grant was approved by a majority of the independent directors of the Company on January 3, 2022 as an inducement material to the employee entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).
The inducement grant consisted of a nonstatutory option to purchase up to 200,000 shares of common stock. The option has an exercise price of
About Fulcrum Therapeutics
Fulcrum Therapeutics is a clinical-stage biopharmaceutical company focused on improving the lives of patients with genetically defined rare diseases in areas of high unmet medical need. Fulcrum’s two lead programs in clinical development are losmapimod, a small molecule for the treatment of facioscapulohumeral muscular dystrophy (FSHD) and FTX-6058, a small molecule designed to increase expression of fetal hemoglobin for the treatment of sickle cell disease and other hemoglobinopathies, including beta-thalassemia. The company’s proprietary product engine, FulcrumSeek™, identifies drug targets that can modulate gene expression to treat the known root cause of gene mis-expression.
Contact:
Investors:
Christi Waarich
Director, Investor Relations and Corporate Communications
cwaarich@fulcrumtx.com
617-651-8664
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