Gossamer Bio Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Gossamer Bio, Inc. (Nasdaq: GOSS) announced the approval of non-qualified stock option awards for two new non-executive employees under the 2023 Employment Inducement Incentive Award Plan. The options have an exercise price of $0.85 per share and will vest over four years, subject to continued employment.

SAN DIEGO--(BUSINESS WIRE)-- Gossamer Bio, Inc. (Nasdaq: GOSS), a clinical-stage biopharmaceutical company focused on the development and commercialization of seralutinib for the treatment of pulmonary arterial hypertension (PAH), today announced that the Compensation Committee of Gossamer’s Board of Directors approved the grant, effective January 5, 2024, to two new non-executive employees of non-qualified stock option awards to purchase up to an aggregate of 212,500 shares of the Company’s common stock under the Gossamer Bio, Inc. 2023 Employment Inducement Incentive Award Plan (“2023 Inducement Plan”). The awards were granted as an inducement material to the employees entering into employment with Gossamer in accordance with Nasdaq Listing Rule 5635(c)(4).

The options have an exercise price of $0.85 per share, which is equal to the closing price of Gossamer’s common stock as reported by The Nasdaq Global Select Market on January 5, 2024. The options have a ten-year term and will vest over four years, with 25% vesting on the one-year anniversary of the applicable vesting commencement date and the balance of the shares vesting in a series of 36 successive monthly installments thereafter, subject to each employee’s continued employment with Gossamer on such vesting dates. The options are subject to the terms and conditions of the 2023 Inducement Plan and the terms and conditions of a stock option agreement covering the grants.

About Gossamer Bio

Gossamer Bio is a clinical-stage biopharmaceutical company focused on the development and commercialization of seralutinib for the treatment of pulmonary arterial hypertension. Its goal is to be an industry leader in, and to enhance the lives of patients living with, pulmonary hypertension.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240108831811/en/

For Investors and Media:

Bryan Giraudo, Chief Operating Officer and Chief Financial Officer

Gossamer Bio Investor Relations

ir@gossamerbio.com

Source: Gossamer Bio, Inc.

FAQ

What did Gossamer Bio, Inc. announce?

Gossamer Bio, Inc. announced the approval of non-qualified stock option awards for two new non-executive employees under the 2023 Employment Inducement Incentive Award Plan.

What is the ticker symbol for Gossamer Bio, Inc.?

The ticker symbol for Gossamer Bio, Inc. is GOSS.

What is the exercise price of the stock options?

The exercise price of the stock options is $0.85 per share.

How long will it take for the options to vest?

The options will vest over four years, with 25% vesting on the one-year anniversary of the applicable vesting commencement date and the balance of the shares vesting in a series of 36 successive monthly installments thereafter, subject to each employee’s continued employment.