Fulcrum Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Fulcrum Therapeutics, Inc. granted non-statutory stock options to two new employees under the 2022 Inducement Stock Incentive Plan. The employees received a total of 85,600 options to purchase shares of the company's common stock at $11.33 per share, with a ten-year term and vesting over four years.

CAMBRIDGE, Mass., March 08, 2024 (GLOBE NEWSWIRE) -- Fulcrum Therapeutics, Inc.^® (Nasdaq: FULC), a clinical-stage biopharmaceutical company focused on developing small molecules to improve the lives of patients with genetically defined rare diseases, today announced that the company granted non-statutory stock options to two new employees. Fulcrum granted stock options to purchase shares of the company’s common stock pursuant to the company’s 2022 Inducement Stock Incentive Plan, as amended, or the plan, as an inducement material to the new employees entering into employment with Fulcrum in accordance with Nasdaq Listing Rule 5635(c)(4).

Fulcrum granted the new employees an aggregate of 85,600 options to purchase shares of the company’s common stock at an exercise price of $11.33 per share, the closing price per share of Fulcrum’s common stock as reported on the grant effective date, March 4, 2024. Each option has a ten-year term and vests over four years, with 25% of the original number of shares vesting on the first anniversary of the applicable employee’s start date and an additional 6.25% of the shares vesting in equal quarterly installments over the twelve successive quarters following the first anniversary, subject to the applicable employee’s continued service with the company through the applicable vesting dates.

About Fulcrum Therapeutics

Fulcrum Therapeutics is a clinical-stage biopharmaceutical company focused on developing small molecules to improve 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 in development for the treatment of facioscapulohumeral muscular dystrophy (FSHD), and pociredir, a small molecule designed to increase expression of fetal hemoglobin and in development for the treatment of sickle cell disease (SCD). Fulcrum uses proprietary technology to identify drug targets that can modulate gene expression to treat the known root cause of gene mis-expression. For more information, visit www.fulcrumtx.com and follow us on Twitter/X (@FulcrumTx) and LinkedIn.

Contact:

Chris Calabrese
LifeSci Advisors, LLC
ccalabrese@lifesciadvisors.com
917-680-5608

How many new employees were granted stock options by Fulcrum Therapeutics, Inc.?

Fulcrum Therapeutics, Inc. granted stock options to two new employees.

Under which plan did Fulcrum Therapeutics, Inc. grant the stock options?

Fulcrum Therapeutics, Inc. granted stock options under the 2022 Inducement Stock Incentive Plan.

How many options were granted to the new employees?

The new employees received a total of 85,600 options to purchase shares of the company's common stock.

At what price per share were the options granted?

The options were granted at an exercise price of $11.33 per share.

How long is the term for each option granted?

Each option has a ten-year term.

How does the vesting of the options work?

The options vest over four years, with 25% of the shares vesting on the first anniversary and the rest vesting in equal quarterly installments over the twelve subsequent quarters.