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

Rhea-AI Summary

Fulcrum Therapeutics (Nasdaq: FULC), a clinical-stage biopharmaceutical company, has announced the granting of non-statutory stock options to two new employees. These grants were made under the company's 2022 Inducement Stock Incentive Plan, in accordance with Nasdaq Listing Rule 5635(c)(4).

The new employees received an aggregate of 90,000 options to purchase Fulcrum's common stock at an exercise price of $3.57 per share, which was the closing price on the grant effective date, October 7, 2024. Each option has a ten-year term and vests over four years, with 25% vesting on the first anniversary of the employee's start date and an additional 6.25% vesting quarterly over the following three years, subject to continued employment.

Positive

• Granting stock options may help attract and retain talented employees
• The vesting schedule encourages long-term employee retention

Negative

• Potential dilution of existing shareholders' equity due to new stock options

CAMBRIDGE, Mass., Oct. 11, 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 90,000 options to purchase shares of the company’s common stock at an exercise price of $3.57 per share, the closing price per share of Fulcrum’s common stock as reported on the grant effective date, October 7, 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 lead program in clinical development is 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

FAQ

How many stock options did Fulcrum Therapeutics (FULC) grant to new employees?

Fulcrum Therapeutics (FULC) granted an aggregate of 90,000 stock options to two new employees.

What is the exercise price of the stock options granted by Fulcrum Therapeutics (FULC)?

The exercise price of the stock options granted by Fulcrum Therapeutics (FULC) is $3.57 per share, which was the closing price on October 7, 2024.

What is the vesting schedule for the stock options granted by Fulcrum Therapeutics (FULC)?

The stock options vest over four years, with 25% vesting on the first anniversary and an additional 6.25% vesting quarterly over the following three years, subject to continued employment.

Under which plan did Fulcrum Therapeutics (FULC) grant these stock options?

Fulcrum Therapeutics (FULC) granted these stock options under the company's 2022 Inducement Stock Incentive Plan, in accordance with Nasdaq Listing Rule 5635(c)(4).