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

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12/05/2023 - 04:01 PM

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 it has granted stock options to Bob Smith, Gossamer’s newly appointed Chief Commercial Officer. The Compensation Committee of Gossamer’s Board of Directors approved the grant, effective December 4, 2023, to Mr. Smith of a stock option to purchase 1,500,000 shares of the Company’s common stock under the Gossamer Bio, Inc. 2023 Employment Inducement Incentive Award Plan (“2023 Inducement Plan”). The award was granted as an inducement material to Mr. Smith entering into employment with Gossamer in accordance with Nasdaq Listing Rule 5635(c)(4).

The options have an exercise price of $0.969 per share, which is equal to the closing price of Gossamer Bio’s common stock as reported by The Nasdaq Global Select Market on December 4, 2023. The options have a ten-year term and will vest over four years, with 25% vesting on the one-year anniversary of Mr. Smith’s date of commencement of employment and the balance of the shares vesting in a series of 36 successive monthly installments thereafter, subject to Mr. Smith’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 grant.

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 suffering from, pulmonary hypertension.